What does "In severalty" mean in property ownership?

The term "in severalty" refers to ownership of property by one individual or entity alone, without any co-owners. This type of ownership provides the sole owner full control and rights over the property, allowing them to make decisions regarding its sale, use, or transfer without needing approval from any other parties.

Understanding this concept is crucial, especially in real estate practices, as it illustrates the distinction between sole ownership and other forms of ownership such as joint tenancy or tenancy in common, where multiple parties have stakes in the property. Such distinctions can significantly impact estate planning, property management, and the legal rights associated with the property.