What is severalty ownership?

Severalty ownership refers to a form of property ownership in which a single individual holds title to the property exclusively. This means that the sole owner has the legal right to control, use, and dispose of the property without the need for consent from any other parties. This type of ownership is characterized by its simplicity and clarity, as the responsibilities and benefits of ownership are concentrated in one person, allowing for straightforward decision-making regarding the property.

In contrast to different types of ownership like joint tenancy or tenancy in common, where multiple parties share rights in the property, severalty emphasizes that there is no shared interest. This type of ownership is commonly seen in real estate transactions where an individual purchases a property outright, free from any co-owners or partnerships.