A property's bundle of legal rights INCLUDES the rights to exclude, use, transfer, encumber and:

A lien is a legal right or interest that a lender has in another's property, granted until the obligation owed by the property owner is satisfied. While liens can affect property rights, they are not a right inherent to property ownership but rather a claim made by a creditor against the property. Therefore, a lien does not belong to the owner's bundle of rights.

The right to tax refers to the government's ability to impose taxes on property owners, which is not a right of ownership but rather a responsibility imposed by the state. Property owners must pay taxes, but taxation does not constitute a right within the owner's bundle of legal rights, making this option incorrect.

Reserving rights refers to the practice of retaining specific rights while transferring other rights to another party. While it can be a part of property transactions, it does not represent a fundamental right included in the basic bundle of rights associated with ownership. Therefore, it is not a standalone right within the standard bundle.