Property Right. That includes holding on to it, selling or renting it out for profit, or transferring it to another party. In standard economics, property rights refer to a bundle of entitlements defining an owner's rights An efficient structure of property rights is said to have three characteristics: exclusivity (all the costs.
The property rights component is an assessment of the ability of individuals to accumulate private property, secured by clear laws that are fully enforced by the state. Property rights are a social creation. Property rights are theoretical socially-enforced constructs in economics for determining how a resource or economic good is used and owned.
You may wonder what property rights have to do with economics.
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In the context of this article, it is one or more components (rather than attributes), whether physical or incorporeal, of a person's estate; or so belonging to. Some say the right to exclude others is what makes something private property. Property Rights are Protected in the Laws of States.