Which rights might NOT be retained by the property owner when leasing their land?

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!

When a property owner leases their land, they typically retain certain rights, but they do not retain ownership rights. Leasing a property involves transferring possession and some usage rights to the tenant for a specified period while the owner still retains the title to the property. This means that while the landlord still owns the property, the tenant gains the right to use it in accordance with the lease agreement.

Ownership rights encompass the fundamental rights associated with property ownership, such as the right to sell, mortgage, or make significant alterations to the property. These rights are not conveyed to the tenant; rather, they remain with the property owner throughout the duration of the lease. Thus, even though the owner may have limited access to the property during the leasing period, they maintain the ultimate ownership of the land and the decision-making rights that come along with it.

In contrast, access rights, profit-sharing rights, and license rights could potentially be defined within the lease agreement. For example, an owner may retain access to the land for maintenance purposes, establish profit-sharing arrangements based on income generated from the leased land, or issue licenses that grant specific rights to use certain features of the property without transferring full ownership.

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