Property Ownership
The bundle of rights concept in Rhode Island real estate means that ownership includes the rights to:
AOnly use the property as the government permits
BUse, enjoy, possess, exclude others, and dispose of the property✓ Correct
CBuild any structure regardless of zoning
DBe exempt from property taxation
Explanation
The bundle of rights in real property ownership includes the rights to use, enjoy, possess, exclude others from, and dispose of (sell, gift, or devise) the property, subject to government limitations.
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Key Terms to Know
Zoning
Local government regulations that control land use by dividing areas into zones specifying permitted uses, building sizes, and densities.
Fee SimpleThe 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.
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