What does ownership mean in terms of real estate?

Ownership in terms of real estate signifies having the legal rights associated with a property, which includes the ability to convey ownership or leasehold interest to others. This means that an owner can sell the property, transfer it to someone else, or lease it out, granting others the right to use or occupy the property while still retaining ownership rights.

The essence of ownership lies in the bundle of rights that comes with it, which encompasses the right to control, use, and transfer the property. This capability is foundational in real estate transactions, where property can change hands through sale or lease agreements. Other activities like renting, managing, or listing properties are indeed related to real estate but do not encapsulate the full scope of what ownership entails in a legal sense. They represent different aspects of property management and sales rather than the fundamental right of ownership itself.