Sole ownership of real property exists when one individual or entity holds title to the exclusion of all others. This arrangement signifies complete and autonomous control over the land and any improvements thereon. For instance, a single person purchasing a home uses their own funds and taking title in their name establishes this type of ownership. Similarly, a limited liability company (LLC) acquiring land solely under its company name also demonstrates this type of singular property holding.
This form of ownership provides simplicity in transactions, as only the owner’s signature is required for sales, mortgages, or other property dealings. It allows the owner to make independent decisions concerning the asset without needing consent from co-owners. Historically, this system evolved to facilitate efficient land management and promote individual economic activity by providing clear and undivided ownership rights. This single form of ownership contrasts with concurrent ownership, such as joint tenancy or tenancy in common, which involve multiple owners.
