Legal Definitions - severalty

Severalty refers to a form of ownership where a single individual or entity holds complete and exclusive title to a property or asset. This means that the owner in severalty has sole control, rights, and responsibilities over the property, without any co-owners sharing the title.

Here are some examples to illustrate the concept of severalty:

• Example 1: Purchasing a Home Individually

  Imagine Sarah decides to buy a house entirely on her own, using her personal savings and taking out a mortgage in her name only. When the deed to the house is recorded, it lists only Sarah as the owner. In this scenario, Sarah holds the property in severalty, meaning she is the sole legal owner with exclusive rights to the property, and no other person shares ownership with her.

• Example 2: A Sole Proprietorship's Business Assets

  John operates a graphic design business as a sole proprietorship. All the equipment, including computers, software licenses, and office furniture, were purchased by him and are registered under his business name, which is legally indistinguishable from him as an individual. John owns these business assets in severalty. He has exclusive control over them, can sell them, or use them as he sees fit, without needing consent from any co-owner.

• Example 3: Inheriting an Ancestral Farm

  After her grandmother passed away, Maria inherited an old family farm as the sole beneficiary named in the will. The will explicitly stated that the farm was to be transferred entirely to Maria, and no other relatives were included in the inheritance of that specific property. Upon the legal transfer of title, Maria now owns the farm in severalty, giving her complete and undivided ownership, control, and responsibility for the land and its structures.