Which of the following is NOT a component of the bundle of rights in real property?

In the context of real property, the "bundle of rights" refers to the various legal rights that come with property ownership. This bundle generally includes key rights such as possession, enjoyment, and disposition.

The right of possession allows the owner to occupy and use the property. The right of enjoyment permits the owner to use the property in any lawful manner without interference; it's essentially the right to enjoy what the property has to offer. The right of disposition gives the owner the ability to sell, lease, or otherwise transfer ownership of the property.

The right of manufacture, however, does not traditionally form part of the fundamental rights associated with property ownership. While property owners might have the ability to manufacture goods on their property (depending on local laws and zoning regulations), this right is not inherently included in the standard rights that define property ownership. It is more specific and situational, rather than an essential aspect of the bundle of rights that applies universally to all real property owners.

Therefore, identifying the right of manufacture as not being a component of the bundle of rights is accurate, as it does not reflect a core right typically associated with real property ownership.