Which of the following is an element of the basic rights of ownership in real property?

The answer regarding the basic rights of ownership in real property correctly identifies the right to lease or rent. This is a fundamental aspect of property ownership, allowing the owner to generate income from their investment. Leasing or renting property is not only a source of revenue but also enables owners to utilize their property in a manner that suits their financial goals and personal circumstances.

Homeowners and real estate investors commonly exercise this right to ensure their properties work for them financially. This right is supported by legal frameworks that establish the terms and conditions under which leasing occurs, such as tenant rights and landlord obligations.

In contrast, the other options do not align with universally accepted rights of ownership. Hosting a party (the first option) is typically a social activity not inherent to property ownership rights. Dismantling the property (the third option) could violate local regulations or zoning laws, thus not being an accepted right of ownership. Lastly, ignoring regulations (the fourth option) is not an inherent right, as property owners must comply with various local, state, and federal laws governing property use and ownership. This ensures that property usage aligns with community standards and legal requirements.