This is our logo – a wrapped bundle of sticks.
It represents the so-called “Bundle of Rights” in real property. A right or interest in property is referred to as an estate. All possible property rights, bundled together, represent ownership in fee simple, or a fee simple estate. This is absolute ownership unencumbered by any other interest or estate, subject only to the limitations imposed by the governmental powers of taxation, eminent domain, police power, and escheat. If some “sticks” are removed, the remaining bundle will represent something less than the fee simple estate. For example, an owner of a fee simple estate may be asked to grant an easement to another entity. In the granting of the easement, he may agree to never construct building improvements on any part of the easement. As long as the easement is binding he continues to own fee simple title subject to the easement. A more drastic example is the fee simple owner who erects an office on his property, then leases it to another for a period of years. In so doing, he may forfeit his right to enter the property, and so on. Under these circumstances, the owner has given up enough rights (sticks) that his interest in the property is renamed. He now holds a “leased fee estate.” Variations in the holding of real property rights are complex as human nature itself. Real estate appraisers are asked to value many combinations of real property interests. The bundle of sticks is a visual reminder of this fact.