Ace the Guam Real Estate Exam 2025 – Unlock Your Island Dream Career!

Ownership in severalty refers to a form of property ownership where a single person or entity holds title to the property exclusively. This type of ownership means that the individual or entity has complete control over the property without the need for participation or agreement from others. The term “severalty” originates from the concept of "severing" ownership from others, emphasizing the singular nature of the title held.

In this arrangement, the owner can make decisions regarding the property without consulting anyone else, can sell or transfer the property, and is solely responsible for any liabilities associated with it. This contrasts with forms of ownership that involve multiple owners, shared responsibilities, or temporary arrangements. Each of those alternatives inherently requires cooperation and decision-making among the various parties involved, which is not a factor in ownership in severalty.