Which element is typically included in the rights of real property ownership?

The right to develop air rights is an important element of real property ownership. Air rights refer to the space above a piece of property, which a property owner has the legal right to utilize or develop, subject to local zoning laws and regulations. This includes constructing buildings or other structures as long as they comply with ordinances governing height and safety, and do not infringe on the rights of neighboring landowners.

Property rights are not limited to just the surface of the land; they extend vertically above and below it. This is why owning property can also mean possessing the rights to any potential developmental opportunities that may exist above it, making the understanding of air rights crucial for property owners and developers alike.

The other options reflect different aspects of property rights, but they don't encapsulate the specific legal and developmental aspect that air rights represent. For example, the right to access neighboring properties typically involves easements or access agreements that may not be universally guaranteed with ownership. The right to lease property could have limitations based on local housing laws or lease agreements, and the right to restrict future ownership transfers can be oftentimes subject to state laws or be limited by the terms of existing property agreements. Therefore, air rights stand out as a distinct feature of property rights, emphasizing the