Humber/Ontario Real Estate Course 4 Exam Practice

Which of the following is NOT one of the rights associated with the possession, use, enjoyment, and disposition of property?

1. Surface rights.

2. Fractional rights.

3. Bundle of rights.

4. Rights-of-way.

The correct answer is: Surface rights.

The identification of fractional rights as not being associated with the traditional "bundle of rights" is accurate, as fractional rights typically pertain to ownership interests divided among multiple owners, and they do not represent a standard category of rights connected to the possession, use, enjoyment, and disposition of property. The concept of the "bundle of rights" is fundamental in real estate, encompassing various entitlements that a property owner holds, such as the right to sell, lease, develop, or use the property. Surface rights pertain specifically to the ownership and control of the surface of the land, which is a core component of property rights. Rights-of-way involve specific legal rights to cross or access land belonging to someone else, reflecting another dimension of property rights that can be negotiated or granted. In contrast, fractional rights do not directly relate to the standard rights of possession, use, enjoyment, and disposition associated with a singular owner's control over a property. This distinction emphasizes the full scope of rights that an individual can hold in relation to property, aligning with the traditional understanding of property ownership.