Real property includes ownership of a bundle of rights. Which statement is true?

• A. Real property includes ownership of a bundle of rights
• B. Real property excludes air rights
• C. Real property cannot be transferred
• D. Real property is limited to surface land only

Answer: (A)

Real property is defined by a bundle of rights attached to the land, not just the physical parcel itself. Ownership includes rights to possess, use, enjoy, exclude others, and transfer the property. These rights can extend above and below the surface and can be separated or conveyed independently—for example, air rights and subsurface rights can be owned or leased apart from the surface. Because of that, the statement that real property includes a bundle of rights is true. Air rights are part of real property, not excluded. Real property can be transferred through sale, lease, or other instruments, so the idea that it cannot be transferred is incorrect. And real property is not limited to surface land; it includes improvements and fixtures attached to the land as part of the property.