What is the ownership form called when one person holds property entirely alone?

The ownership form referred to when one person holds property entirely alone is known as "in severalty." This term signifies that the property is owned solely by one individual, meaning that person has full control over the property and is responsible for all decisions related to it, including management, leasing, and selling. The concept of severalty distinguishes this ownership from other forms, such as joint tenancy or tenancy in common, where ownership is shared with others.

In severalty is particularly significant in real estate because it provides the owner with exclusive rights and eliminates the complexities that arise when multiple parties have an interest in the property. This form of ownership can simplify estate planning and property management, as the sole owner can make unilateral decisions without the need to consult others involved in joint ownership arrangements. Understanding these distinctions is vital for anyone studying real estate principles, especially in relation to the different forms of property ownership.