What does severalty refer to in property ownership?

Severalty refers to the sole ownership of property by a single individual or entity. In this type of ownership, the person or entity holds exclusive rights to the property, including the rights to sell, lease, or otherwise manage the property without needing consensus from others. This contrasts with other forms of ownership where multiple parties may share interests or rights in the property, like joint tenancy or tenancy in common. Understanding the concept of severalty is important in real estate law, as it clarifies the legal rights and responsibilities of property owners, particularly related to decisions about the property and any transactions that may involve it.