What type of ownership describes real estate owned by a single person or entity?

The term that describes real estate owned by a single person or entity is "severalty." When property is held in severalty, it indicates that there is a sole owner with full rights and control over the property. This type of ownership allows the owner to make decisions about the property without needing the consent of others, and it also means that the entire interest in the property can be sold, transferred, or inherited according to the owner's wishes.

In contrast, joint tenancy involves multiple owners who have equal rights to the property and includes survivorship rights, meaning if one owner passes away, their share automatically goes to the surviving joint tenant(s). A life estate is a type of ownership that lasts for the duration of a specific individual's life and cannot be transferred beyond that person’s lifetime. Tenants in common refers to a form of ownership where two or more individuals own a property together, but with each holding a distinct share that can be sold or transferred independently, which is not representative of sole ownership.