Which term describes any limitations or restrictions placed on property rights?

The term that describes any limitations or restrictions placed on property rights is encumbrances. Encumbrances encompass various legal claims or burdens against a property that can affect ownership and the owner's ability to use or sell that property freely. Examples of encumbrances include mortgages, easements, liens, and restrictions or covenants in property deeds. These limitations can significantly impact the value and usability of the property, as they may impose conditions or obligations on the owner.

In contrast, dispositions refer to the act of transferring ownership or interests in property, which does not inherently imply limitations. Estates pertain to the nature and extent of ownership rights in real property, and possessions simply indicate who is physically in control of the property at a given time. Understanding encumbrances is crucial for anyone involved in real estate, as they must be evaluated during property transactions to ensure that potential buyers are fully aware of any limitations on their rights.