What is the term for property owned by one person?

The correct term for property owned by one person is "Sole or Several Ownership." This term specifically indicates that the property is held exclusively by a single owner, who has full rights and control over the property without the involvement of any other individuals or entities. This ownership type is significant in real estate as it provides clarity on the ownership structure, legal rights, and the ability to make decisions regarding the property without needing consent from others.

In contrast, other terminology pertains to different forms of ownership. Joint Ownership refers to property owned by two or more individuals, where rights may be shared equally or unequally. Community Property is a legal term used in some states, including California, to describe property acquired during a marriage, which is owned jointly by both spouses. Partnership Interest typically pertains to an ownership stake in a business partnership rather than real estate ownership. Understanding these distinctions is crucial in real estate transactions and ownership discussions.