Which of the following refers to a property owner’s right to sell or lease their property?

The concept referred to in this question is "Disposition," which encompasses a property owner's right to sell, lease, or otherwise transfer their property to another party. This term emphasizes the owner's ability to determine how the property will be used in the context of ownership.

Understanding Disposition is essential in real estate because it highlights the autonomy an individual has regarding their investment or asset. Property owners can make decisions that align with their financial goals, whether they choose to generate income through leasing or realize an immediate gain through selling.

In contrast, the other terms mentioned correspond to different property rights. For instance, "Right of Use" refers to the ability to utilize the property, while "Enjoyment" pertains to the right to enjoy one's property without interference. "Possession," on the other hand, indicates physical occupancy or control over the property. Each of these rights plays a distinct role in property ownership, but they do not specifically encompass the broader right to sell or lease, which is the essence of Disposition.