[5] For example, perfection of a mechanic's lien takes some, but not all, rights out of the bundle held by the owner.
In the United States (and under common law) the fullest possible title to real estate is called "fee simple absolute."
National, sub-national, and municipal laws strongly influence what title owners can do with their property in terms of physical development.
This allows people to buy a home at a price far below the market rate and to realize the benefits of their property value improving.
Depending on the applicable laws, a squatter can acquire property rights by simply occupying vacant land for an extended period of time.
Squatters face great instability due to their lack of title and governmental efforts at "blight removal".
Their neighbor may have an easement for a utility line, and a license for entry and exit to a nearby plot of land.
Constitutionally, the state and federal governments always hold the right to condemnation, also called eminent domain, and the government at multiple levels retains various regulatory rights such as environmental regulation, zoning, and building code enforcement.