What concept describes land ownership that includes all legal rights to the land?

The concept of land ownership that encompasses all legal rights to the land is referred to as the "Bundle of Legal Rights." This term illustrates that land ownership is not solely about physical possession; it involves a collection of rights that an owner has concerning the property. These rights typically include the right to possess the land, control it, use it, exclude others from it, enjoy the benefits from it, and dispose of it by selling or transferring ownership.

Understanding this concept is crucial because it highlights the complex nature of real estate ownership and the various rights that can be attached to a property. Each right within the bundle can be bought, sold, or transferred separately, which further delineates the ownership experience. In contrast, other options like "Land Grant," "Property Rights," or "Title Deed" refer to specific aspects or documents related to land ownership but do not capture the comprehensive set of rights embodied in the "Bundle of Legal Rights." This bundle approach emphasizes the multifaceted nature of property ownership, showcasing that ownership can be extensive and includes a range of rights and responsibilities.