A property owned solely by one individual is referred to as?

A property owned solely by one individual is referred to as ownership in severalty. This term is used to indicate that the owner has full and exclusive rights to the property, free from any claims by other parties. Ownership in severalty signifies that the single owner has the right to manage, sell, or otherwise control the property without needing consent from others, as would be required in forms of joint ownership.

In contrast, other terms like tenancy by the entirety, joint tenancy, and common interest involve multiple parties sharing ownership and various levels of rights and responsibilities. Tenancy by the entirety typically applies to married couples, where each spouse has an equal share of the property, and the right of survivorship. Joint tenancy also involves multiple owners who share equal ownership and have the right of survivorship, allowing property rights to pass to the surviving owners upon one owner's death. Common interest usually refers to ownership structures in developments like condominiums or cooperatives, where individuals have exclusive rights to their units but share common areas with other owners. Understanding these distinctions is key in real estate practices.