The Town of Oakville has proposed a new by-law that would restrict the maximum height of new residential buildings in certain areas to three stories. If a property owner currently owns land zoned for higher density and wants to build a six-story building, this proposed by-law primarily impacts which aspect of their bundle of rights?

Question: The Town of Oakville has proposed a new by-law that would restrict the maximum height of new residential buildings in certain areas to three stories. If a property owner currently owns land zoned for higher density and wants to build a six-story building, this proposed by-law primarily impacts which aspect of their bundle of rights?

Answer options:

• The right to possession, as it restricts physical occupation.
• The right to dispose of the property, as it affects market value. ✅ The right to use and enjoy the property, by limiting development potential.
• The right to encumber the property, by affecting its ability to secure a loan.

Correct answer: The right to use and enjoy the property, by limiting development potential.

Explanation: Planning controls like zoning by-laws directly regulate how an owner can use and develop their property, thereby impacting their right to use and enjoy the land. This is a common restriction on land use imposed under the Planning Act.