Ownership is held in Severalty Ownership when all the rights of ownership in a particular piece of property are held by one person.
When a single person, business, or other entity owns the property, this is known as Severalty Ownership. The name of the phenomenon refers to the cutting off of a solitary owner from other owners' rights to ownership.
The property's owner in severalty is the only person with ownership rights, and they are also the only ones with the authority to sell, bequeath, encumber, or otherwise transfer all or any portion of those rights to another person.
Those parties are known as co-owners or concurrent owners when they hold title to a piece of real estate jointly or severally. Depending on the state, co-owners may own a property as tenants by the entirety or communal property if they are married or part of a legal civil union.
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