What are the rights and privileges granted with a fee simple estate commonly called?

The rights and privileges associated with a fee simple estate are commonly referred to as the "bundle of rights." This terminology symbolizes that property ownership encompasses various rights that can be individually separated or combined, much like individual items in a bundle.

In a fee simple estate, the owner has the complete set of rights to the property, which typically includes the right to use the property, sell it, lease it, give it away, or even pass it on to heirs. This comprehensive ownership is fundamental to real estate and is a significant aspect that sets it apart from lesser interests in property, such as leaseholds or life estates.

The choice of the term "bundle" emphasizes the idea that these rights are interconnected yet distinct. The other options, like "basket," "box," or "group," do not accurately capture the concept used in real estate terminology, which has traditionally favored "bundle" to stress the indivisibility and collective nature of ownership rights within a fee simple estate.