What does the 'bundle of rights' include?

The concept of the "bundle of rights" in real estate refers to the various rights that ownership of a property grants to the owner. These rights encapsulate several key aspects, primarily including possession, control, enjoyment, exclusion, and disposition.

Possession gives the owner the legal right to occupy the premises. Control allows the owner to make choices regarding the property, such as how it is used or modified. Enjoyment ensures that the owner can enjoy the benefits of the property without intrusion from others. Exclusion provides the right to prevent others from entering or using the property. Finally, disposition involves the authority to sell, lease, or otherwise transfer ownership of the property.

The bundle of rights is fundamental in real estate as it outlines the full spectrum of entitlements that come with property ownership. This makes option A the comprehensive answer, as it encapsulates the essential rights associated with possession and control, which are integral parts of the ownership experience in real estate. Other options focus on narrower interpretations or specific rights that do not encompass the full scope of ownership.