What does full legal ownership of a property imply?

Full legal ownership of a property is best characterized by complete legal title with a bundle of rights. This means that the owner has the comprehensive authority to use, sell, lease, or modify the property, as well as the right to exclude others from it. The concept of a bundle of rights encompasses various interests that come with ownership, which can include the right to occupy the property, transfer it, and derive income from it.

In contrast, the other options reflect different types or limitations of ownership. Limited rights suggest that ownership does not encompass the full range of controls or benefits typically associated with property ownership. A share of ownership indicates a partial interest, meaning that rights and responsibilities are restricted compared to full ownership. Ownership subject to external control highlights situations where external regulations or agreements limit the owner's discretion over their property. Therefore, the answer underscores the fundamental principle that full legal ownership grants an individual complete rights and control over their property.