Which term describes the ownership of land including legal rights like possession and control?

The term that describes the ownership of land, including legal rights such as possession and control, is the "Bundle of rights." This concept refers to the various rights that accompany property ownership. These rights typically include the right to possess the property, the right to use it, the right to sell it or transfer it, the right to lease it, and the right to exclude others from it. Essentially, the Bundle of rights illustrates that ownership is not just a single right but a collection of rights that provide the owner with the ability to utilize and manage the property as they see fit.

Other terms provided, such as "property deed," refer to the legal document that formally conveys ownership, but they do not encapsulate the comprehensive set of rights associated with that ownership. A "land lease" relates specifically to the right to use someone else's land under specified conditions, rather than ownership itself. Lastly, "asset ownership" is a broader term that can apply to various types of property, not just land, and lacks the specific legal framework encompassed in the Bundle of rights concept. Thus, it is the Bundle of rights that most accurately captures the nature of land ownership and the associated legal rights.