Property Ownership
In North Dakota, the Bundle of Rights associated with property ownership includes all EXCEPT:
ARight to use
BRight to sell
CRight to exclude others
DRight to avoid all taxes✓ Correct
Explanation
The Bundle of Rights includes the rights to use, enjoy, exclude others, sell, lease, and devise property. There is no right to avoid taxes; property is subject to taxation by governmental authorities as an exercise of the taxing power.
People Also Study
Related North Dakota Questions
- A North Dakota landowner's 'bundle of rights' includes all of the following EXCEPT:Property Ownership
- Which of the following BEST describes the bundle of rights associated with real property ownership?Property Ownership
- A riparian rights owner in North Dakota has the right to use water from:Property Ownership
- A North Dakota farmer purchases cropland and expressly retains ownership of the mineral rights. This creates:Property Ownership
- A North Dakota broker lists a property at $375,000 under an exclusive right to sell agreement with a 5.5% commission. The property sells for the listing price. How much does the cooperating buyer's broker earn if the commission is split 50/50?Real Estate Math
- A North Dakota commercial tenant who is late paying rent may be subject to a late fee. Under a properly drafted lease, such fees are enforceable if they are:Property Management
- A North Dakota oil and gas lease typically includes an 'offset well' clause that protects the landowner against:Environmental
- A North Dakota commercial tenant's lease includes a 'force majeure' clause. This clause protects the tenant from liability for:Property Management
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.
1031 ExchangeA tax-deferred exchange allowing investors to sell one investment property and reinvest proceeds in a like-kind property while deferring capital gains taxes.
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.
Study This Topic
Practice More North Dakota Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free North Dakota Quiz →