Describe the term "property rights".

The term "property rights" refers to the legal rights of ownership and use of real estate. This concept encompasses a variety of entitlements that a property owner holds, which can include the right to possess, use, exclude others from, lease, sell, or even develop the property. These rights are fundamental within real estate law and can vary based on jurisdiction, but they generally include the rights to control the property and make decisions regarding its use.

The other options, while related to aspects of property and ownership, do not fully capture the comprehensive nature of property rights. For example, the rights an owner has to sell their property only highlight one specific aspect of ownership, whereas property rights incorporate a broader array of legal entitlements. Similarly, the rights of renters pertain to a different relationship altogether and do not address the full suite of ownership rights that are inherent to property owners. Lastly, restrictions like those imposed by zoning laws represent limitations on property rights rather than the rights themselves; they dictate how property can be used rather than defining what rights a property owner possesses.