What does it mean to have a complete ownership interest in real property?

Having a complete ownership interest in real property means that the owner possesses the full rights associated with that property, which prominently includes the right to sell or transfer the property. This grants the owner the unilateral ability to manage the property, make decisions about its use, and fully exercise their rights without needing permission from others, which is a key characteristic of complete ownership.

The other options highlight certain aspects of property ownership but do not capture the essence of complete ownership. For instance, the ability to lease the property is a privilege that an owner may choose to exercise, but it does not define complete ownership. Being subject to property taxes is a responsibility that comes with ownership rather than a defining characteristic. Shared ownership with others indicates a different type of ownership—co-ownership or joint ownership—where rights and responsibilities are divided, contradicting the concept of having complete ownership. Therefore, the right to sell or transfer the property encapsulates the full scope of rights that come with complete ownership.