What is one right included in the bundle of rights?

The choice indicating the right of enjoyment to use the property legally is correct because it directly pertains to one of the fundamental rights associated with property ownership. This right allows the owner to utilize their property in a manner that is permissible under local laws and regulations. This might include using the property for residential, commercial, or recreational purposes, as long as such uses comply with zoning laws and other legal restrictions.

Each property owner possesses a bundle of rights that typically includes the right to use, sell, lease, and enjoy the property. The right to enjoyment is significant because it emphasizes the owner's freedom to derive pleasure or benefit from the property without interference from others, as long as the use remains lawful.

The other options do not accurately reflect a standard right included in the bundle of rights. While renovating the property can be a right, it often comes with legal or municipal restrictions, meaning it's not an absolute right without limitations. Additionally, the right to prevent others from owning nearby land is not recognized in property law, as ownership rights are generally limited to the owned property itself. Lastly, refusing tax obligations is not a legal right; property owners are subject to taxation based on their ownership and use of the property.