California Real Estate Practice Exam

The definition given in the question aligns with the concept of ownership. Ownership refers to the legal right to possess and use property, allowing individuals or entities to exclude others from that property. This concept is central to property law, as it establishes who has control over a property and the rights associated with that control.

Discrimination pertains to the unfair treatment of individuals based on characteristics such as race, gender, or age, and does not relate to the rights of possession or use of property. Equity involves fairness in transactions and could refer to equitable interests in property but does not specifically capture the idea of exclusion rights. Novation is a legal term that refers to the replacement of one of the parties in an agreement, necessitating the consent of all parties involved, which again, does not tie into the concept of possession and use to the exclusion of others.

Therefore, the definition clearly corresponds to ownership, which emphasizes the exclusivity and rights that come with possessing property.