What kind of estate is held by only one owner?

The estate held by only one owner is known as an estate in severalty. This term refers to the ownership of real property by a single individual, which means that the owner has full rights and responsibilities associated with the property. The phrase "in severalty" implies that the owner is separate from others in terms of title and ownership, providing complete control over the property without any co-owners.

In contrast, options like tenancy in common and joint tenancy involve multiple owners. In a tenancy in common, two or more people own property together, but each person holds a distinct, undivided interest in the property. Joint tenancy allows for multiple individuals to own property with equal rights and includes the right of survivorship, meaning that if one owner passes away, their interest automatically transfers to the surviving owners. A license, meanwhile, is a legal right that allows one party to use the property of another without possessing any ownership interests.

Thus, an estate in severalty is uniquely designated for one owner, indicating exclusive ownership and authority over the property, which distinguishes it from other ownership forms that involve multiple parties.