Ownership of real estate by a single party is called individual ownership. solit
ID: 2620934 • Letter: O
Question
Ownership of real estate by a single party is called
individual ownership.
solitary possession.
tenancy in severalty.
simple tenancy.
The owner of a unit within a cooperative actually owns
shares in a corporation or association and a proprietary lease in a physical unit.
a fee simple interest in a physical unit plus a tenancy in common in common elements.
a tenancy in common in a physical unit and the common areas.
a ground lease in the physical unit's pro rata share of land and a proprietary lease in the unit.
Explanation / Answer
1)
tenancy in severalty.
Absolute and sole ownership of property by a legal entity, without cotenants, joint-tenants, or partners.
2)
shares in a corporation or association and a proprietary lease in a physical unit.
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