What rights may property owners keep, sell, or lease?

Study for the Arizona Salesperson Test with flashcards and multiple-choice questions. Each question is paired with helpful hints and detailed explanations. Get ready to ace your exam!

The correct answer pertains to profit and license rights, as these are specific types of rights that property owners can indeed retain, sell, or lease. Profit rights refer to the ability of a landowner to harvest or extract natural resources from their land, such as timber, minerals, or other products. This allows property owners not only to maintain control over the resources on their land but also to derive income from them. License rights, on the other hand, pertain to granting permission for others to use the property for certain purposes, such as a hunting license or allowing someone to install a utility line.

In the context of property ownership, these rights are significant because they can greatly affect the value of the property and provide various avenues for generating income. They often involve a legal agreement that outlines the terms and limitations of usage, ensuring that the property owner retains control over how their property is utilized.

The other options, while they mention important aspects of property ownership, do not encapsulate the broad range of rights that property owners can retain and choose to manage. For example, mineral rights are indeed important, but stating "only" implies a limitation that does not encompass the full scope of rights available to property owners. Access and water rights are related but are more specific

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