When one unmarried person owns an entire property with no co-owners, what is this called?

Study for the Louisiana Title Insurance Exam. Engage with flashcards and multiple choice questions. Hints and explanations guide your way. Prepare confidently for your certification!

When one unmarried person owns an entire property without any co-owners, this scenario is referred to as full ownership. In this context, full ownership signifies that the individual holds complete rights and privileges to the property, allowing them to use, manage, and transfer the property as they see fit without needing to consult or share decision-making with others, which is a key aspect of property ownership.

The concept of full ownership highlights the principle that the owner has exclusive control over the property, enabling them to make independent decisions concerning it. This stands in contrast to co-ownership arrangements, where multiple parties have a shared interest in the property, and thus, must collaborate in managing that asset. Additionally, fractional ownership relates to timeshares or investment schemes where multiple individuals hold a share of ownership, which does not apply in a situation where one person has sole ownership. Joint tenancy involves property ownership by two or more individuals under certain shared rights, such as the right of survivorship, and is also not relevant to the case of a single owner.

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