What is Ownership in Severalty?

Ownership in severalty refers to real estate that is vested in a single individual or entity without any co-owners. This means that one person holds complete title and control over the property, distinguishing it from forms of co-ownership where multiple parties share ownership rights.

When property is owned in severalty, the owner has the exclusive right to sell, lease, or otherwise manage the property as they see fit. This form of ownership is often sought after by individuals or businesses that prefer to have full decision-making authority regarding their real estate assets.

Understanding ownership in severalty is important in real estate as it clarifies the distinctions between individual and joint ownership, giving insight into how property rights are structured and managed.