A person who owns property alone is known as?

A person who owns property alone is known as?

• A. Multiple owners
• B. Tenant in common
• C. Joint tenant
• D. Tenant in severalty

Answer: (D)

A person who owns property alone is referred to as a tenant in severalty. This term originates from the concept of owning property solely and independently, which indicates that the owner has complete control over the property and is not sharing ownership with any other individuals. In this context, "severalty" comes from the idea of singular ownership, as opposed to shared ownership arrangements. The other terms involve multiple parties in ownership situations. For example, "joint tenant" describes a scenario where two or more people hold equal shares of property with the right of survivorship. "Tenant in common" also involves multiple owners but allows them to have unequal shares in the property, with no right of survivorship. "Multiple owners" is a broad and vague term that could refer to any scenario where more than one person owns property but does not specifically define the ownership structure like the other terms do. Therefore, tenant in severalty is the precise designation for a single owner of property.

A person who owns property alone is referred to as a tenant in severalty. This term originates from the concept of owning property solely and independently, which indicates that the owner has complete control over the property and is not sharing ownership with any other individuals. In this context, "severalty" comes from the idea of singular ownership, as opposed to shared ownership arrangements.

The other terms involve multiple parties in ownership situations. For example, "joint tenant" describes a scenario where two or more people hold equal shares of property with the right of survivorship. "Tenant in common" also involves multiple owners but allows them to have unequal shares in the property, with no right of survivorship. "Multiple owners" is a broad and vague term that could refer to any scenario where more than one person owns property but does not specifically define the ownership structure like the other terms do. Therefore, tenant in severalty is the precise designation for a single owner of property.