Which of the following best describes severalty ownership?

The concept of severalty ownership refers specifically to the ownership of property by a single individual or legally recognized entity. This means that the owner has complete control over the property and is entitled to utilize, manage, and dispose of it without the need for consent from any other party. This singular ownership can be particularly advantageous, as it provides clear title and rights, making it easier to sell, mortgage, or develop the property.

The term "severalty" derives from "sever," indicating that ownership is severed from any joint or shared interests. In contrast, ownership shared by multiple parties implies a joint ownership arrangement, which may involve complexities like shared decision-making and responsibilities. Ownership in trust suggests that the property is managed by one individual or entity for the benefit of another, complicating the straightforward ownership model. Finally, ownership involving a life estate entails a shared interest where one party has the right to use the property during their lifetime, further distancing it from the definition of severalty ownership.