Real Estate Appraisal Practice Exam

Which of the following is a right included with real property?

1. Possession

2. Exclusion

3. Control

4. Transfer

The correct answer is: Exclusion

The right included with real property focuses on the inherent benefits and privileges that come with owning land and buildings on that land. Possession, control, and transfer are all essential aspects of property ownership. However, the right that is distinctly recognized as an integral part of real property ownership is possession. Possession allows the property owner to occupy and use the property, demonstrating the owner's claim and rights over the resource. This is a foundational element of property rights, giving the owner the authority to make decisions regarding how they utilize and interact with their property. In contrast, exclusion grants the owner the ability to restrict others from entering the property, which is also an important right but is considered more of a derived benefit from possession rather than a fundamental inclusion. Control grants the ability to influence how the property is utilized, and transfer refers to the right to sell or convey the property to someone else, both of which are also essential rights related to real property ownership. However, possession stands out as a primary right that encapsulates many of the other rights associated with real property, as it directly relates to the physical use and occupancy of the property. In summary, possession is a core right embedded in real property ownership, as it forms the basis for other rights such as control,