Which form of ownership means property is owned by a single person with exclusive rights?

• A. Concurrent Ownership
• B. Tenancy in Common
• C. Sole Ownership
• D. Lis Pendens

Answer: (C)

Sole ownership means the property is owned by one person who holds the entire bundle of rights in severalty. This gives that single owner exclusive possession, control, use, and the right to sell, encumber, lease, or will the property without needing consent from others. It contrasts with forms of concurrent ownership, where two or more people share title and rights. Tenancy in common is a type of concurrent ownership where each owner has a distinct interest that can be unequal and can be inherited, but there’s no single owner with exclusive rights. Lis Pendens isn’t an ownership form at all—it's a notice in the public records that there is pending litigation affecting the property. So the form with a single owner and exclusive rights is sole ownership.