PSI Oklahoma Real Estate Practice Test 2025 – The Complete Guide to Exam Success!

Question: 1 / 400

When real estate title is owned by one person or entity, this is known as?

Joint tenancy

Estate in severalty

When real estate title is owned by one person or entity, this ownership structure is referred to as an estate in severalty. This term specifically denotes that the property is held exclusively by one individual or legal entity, which affords them complete control over the property without the involvement of other co-owners.

In contrast, joint tenancy, tenancy in common, and common ownership all involve multiple parties having an interest in the property. Joint tenancy features rights of survivorship between co-owners, while tenancy in common allows for ownership shares that can be unequal and does not include the right of survivorship. Common ownership is a more general term that does not accurately describe the singular ownership aspect emphasized in this question.

Understanding these distinctions is crucial in real estate, as they dictate the rights and responsibilities of property owners.

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Tenancy in common

Common ownership

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