Humber/Ontario Real Estate Course 1 Exam Practice

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Prepare for the Humber/Ontario Real Estate Course 1 Exam with our comprehensive quiz. Test your understanding with multiple choice questions and detailed explanations. Build confidence and knowledge for a successful exam experience!

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What best describes the rights tied to the ownership of property, including possession, enjoyment, and disposition?

Fractional rights
Rights-of-way
Surface rights
Bundle of rights

The correct answer is: Bundle of rights

The correct answer is D. Bundle of rights. This term refers to the various legal rights that are associated with the ownership of real property. These rights include the right to possess, use, enjoy, and dispose of the property. The concept of the bundle of rights recognizes that property ownership is not limited to just one specific right but rather a combination of different rights that make up the complete ownership package. Options A, B, and C are incorrect: A. Fractional rights: This term refers to partial ownership of real property, where multiple owners each have a share or interest in the property. B. Rights-of-way: These are legal easements that allow a person to pass through another person's property. C. Surface rights: This term specifically refers to the rights related to the surface of the land, including the right to use and develop the surface of the property.