Which act specifically provides individuals the right to buy, sell, convey, inherit, and possess property?

The Civil Rights Act of 1866 is the key legislation that explicitly grants individuals the right to buy, sell, convey, inherit, and possess property without regard to race or color. This act was significant in the post-Civil War era as it aimed to protect the property rights of newly freed African Americans, ensuring that they could enjoy the same rights as white citizens in relation to property ownership.

The importance of this act lies in its broad and unqualified statement concerning property rights, establishing a crucial legal foundation for later civil rights advancements. It effectively laid the groundwork for future legislation concerning property and civil rights by affirmatively recognizing the right to property as an essential human right.