Severalty
Definition and meaning of Severalty in real estate.
Severalty, also known as tenancy in severalty or sole ownership, is the legal term for real property owned by a single individual or a single legal entity. The term is derived from the idea that the owner's interest is severed, or cut off, from any other owners.
In more detail
Under this ownership structure, the sole owner enjoys exclusive control over the property, holding the unilateral right to lease, sell, mortgage, or devise it through a will. This form of ownership stands in contrast to co-ownership models, such as tenancy in common or joint tenancy, which require multiple parties to share control.
Corporations, partnerships, and limited liability companies can also hold title in severalty, as the law treats these organizations as single legal entities. When a sole owner dies, the property typically passes to their heirs or beneficiaries through the probate process, unless alternative estate planning structures are in place.
Buyers should consult a title professional or attorney to ensure that taking title in severalty aligns with their long-term planning goals.
Key facts
| Category | Legal, Titles & Closing |
|---|---|
| Ownership count | Exactly one person or legal entity holds the title |
| Right of disposal | Unilateral authority to sell, lease, or mortgage the property |
| Alternative structures | Joint tenancy, tenancy in common, and tenancy by the entirety |
An investor purchases an apartment building and receives a deed stating that they hold the title in severalty, ensuring they have sole decision-making authority over the asset.
Frequently asked questions
Can a married person own property in severalty?
Yes, depending on state law, a married individual can own property in severalty, though spouse consent may still be required to sell or transfer it.
What does severed mean in severalty?
In this legal context, severed means that the owner's title is completely separated and distinct from the ownership interests of any other parties.