Final answer:
An acquired privilege to use real property that is less than full ownership is called an easement. Easements and restrictive covenants control property use, whereas usufruct rights allow use without ownership. Property laws necessitate ownership for contract purposes.
Step-by-step explanation:
An acquired privilege to use or enjoy real property that is short of an estate is known as an easement. Easements grant the right to use another's property for a specific purpose. For example, utility companies often have easements that allow them to run wires through private property. Restrictive covenants and easements can dictate land use, such as preventing construction to preserve open spaces for the public good. Usufruct rights, common in many societies, allow individuals to use but not own or sell land, reflecting a form of privileged use that is non-proprietary.
Laws concerning property rights also establish that individuals or entities must own property in order to enter into contracts involving that property. This legal framework ensures that rights to access or use property can be specified, divided, inherited, and even traded, much like the historical concept of shiki in Japanese aristocratic society, which defined rights to a portion of produce from the land.