American Institute of Certified Planners (AICP) Practice Exam

Although the devise grants specific rights to the land, title is not. Name it.

1. Fee sale

2. Easement

3. Bargain sale

4. Right of first refusal

The correct answer is: Easement

The correct answer is an easement, which specifically grants certain rights to use land owned by another party without transferring ownership of the property itself. An easement allows a person or entity to use a portion of another's property for a designated purpose, such as access to a roadway, utilities, or drainage. This relationship grants the easement holder specific usage rights, while the original titleholder retains ownership of the land, making it a non-possessory interest. In contrast, a fee sale typically involves transferring ownership of the land entirely, making this option inconsistent with the concept of retaining title. A bargain sale combines elements of both a sale and a charitable donation, where property is sold for less than its market value, impacting title transfer rather than granting usage rights. A right of first refusal allows a party the opportunity to purchase a property before the owner sells it to someone else, which is a financial right but not an inherent usage right on the land itself. Therefore, understanding the distinction between rights granted and title ownership clarifies why an easement is the correct answer.