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You win some, you lose some, and some you just bill by the hour.
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Legal Definitions - profit
Definition of profit
In property law, a profit (short for profit à prendre) is a legal right that allows a person or entity to enter onto another individual's land and remove a specific natural resource or product directly from that land. This right is distinct from merely using the land; it involves taking something tangible away that is considered a natural output of the property.
- Coal Mining Right
Imagine a scenario where a mining company obtains a legal right to access and extract coal from beneath a private landowner's property. The company pays the landowner for this privilege.
This illustrates a profit because the mining company is granted the right to enter the landowner's property and take a natural resource (coal) directly from it. The coal is considered a "produce" of the land in this legal context, and the right allows for its removal.
- Grazing Rights for Livestock
Consider a farmer who has a legally recognized agreement to allow their cattle to graze on a specific pasture belonging to a neighboring estate during certain months of the year.
This is a profit because the farmer is exercising a right to enter the neighbor's land and take a natural product – the grass – by having their livestock consume it. The value is derived directly from the land's natural growth, which the farmer's animals are permitted to remove.
- Collection of Wild Berries for Sale
Suppose an individual obtains a specific legal right from a private forest owner to enter a designated area of their forest each autumn to collect wild berries, such as blueberries or blackberries, for commercial sale.
This demonstrates a profit as the individual has the right to enter the private land and take a natural product (the wild berries) directly from their source on that property, intending to remove them for their own benefit.
Simple Definition
A profit is a legal right granted to an individual that allows them to enter another person's land. This right specifically permits the holder to take a natural resource directly from that property.