Property Ownership

A 'bundle of rights' associated with real property ownership includes all of the following EXCEPT:

AThe right to use

BThe right to exclude others

CThe right to destroy

DThe right to tax✓ Correct

Explanation

The bundle of rights includes the rights to possess, use, enjoy, exclude others, and dispose of property. The right to tax is a governmental power, not a private property right.

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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.

Joint Tenancy

Co-ownership where two or more people hold equal, undivided interests with the right of survivorship — when one owner dies, their share passes to the surviving owners.

Deed

A written legal instrument used to transfer ownership of real property from one party (grantor) to another (grantee).

Easement

A non-possessory right to use another person's land for a specific purpose.