Property Ownership (alternative)
The 'bundle of rights' in Maryland real property includes the rights to:
AOwn, sell, exclude, use, and encumber (mortgage) the property✓ Correct
BOnly use and possess the property
CPossess and use, but not sell without government permission
DDevelop, lease, and inherit only
Explanation
The bundle of rights in real property includes: the right to possess, use, enjoy, exclude others, transfer (sell/gift/devise), and encumber (mortgage) the property — often described as 'PETE' (Possess, Enjoy, Transfer, Exclude).
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Key Terms to Know
Fee Simple
The highest and most complete form of property ownership — absolute ownership with the right to use, sell, or pass the property to heirs.
DeedA written legal instrument used to transfer ownership of real property from one party (grantor) to another (grantee).
EasementA non-possessory right to use another person's land for a specific purpose.
EncumbranceAny claim, lien, charge, or liability attached to real property that affects its value or limits its use.
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