Singleownership

Singleownership, commonly referred to as sole ownership, is the legal arrangement in which a single person or entity holds full title to and control over an asset. The owner has exclusive rights to use, transfer, lease, mortgage, or otherwise dispose of the asset, subject to applicable laws. This form contrasts with forms of co-ownership such as joint tenancy and tenancy in common, where two or more parties share rights and may have different interests and survivorship rules.

In real property, sole ownership means the deed lists one owner and any transfer requires that owner's consent. Debts or liens against the asset fall to the owner's responsibility; the owner bears tax obligations and insurance costs. In many jurisdictions, sole ownership also affects succession, probate, and the ease of imposing liens or encumbrances.

In intellectual property, single ownership refers to rights held by one entity, enabling exclusive licensing, enforcement, and transfer of ownership. Such ownership can be assigned or licensed to others under contract; the owner retains ultimate control over the work or invention.

Advantages of single ownership include a clear title, simplified decision making, and straightforward transfer of the asset. Disadvantages can include reduced liquidity, greater impact from the owner's incapacity or death, and potential inefficiencies in governance when multiple parties could benefit from shared ownership.

In practice, ownership is often part of broader estate planning and corporate structures. Examples include a person owning a home in their name, or a corporation owning a patent. Related concepts include sole proprietorship, joint tenancy, tenancy in common, and community property.