Under Virginia law, a person who owns real property entirely alone, with no other co-owners, is said to hold the property in which form of ownership?
Correct Answer
B) Tenancy in severalty
Tenancy in severalty refers to sole, individual ownership of real property by one person or one legal entity. The term 'severalty' derives from the concept of being 'severed' from others — there are no co-owners. This is the simplest and most common form of real property ownership in Virginia.
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Related Topics & Key Terms
Key Terms:
Related Concepts
A leasehold estate grants the right to possess and use property for a defined period of time, without conferring ownership.
A life estate is a freehold estate that grants ownership rights for the duration of someone's life.
Real property is immovable land and anything permanently attached to it, while personal property (also called chattels) is movable.
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