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Commonly Asked Questions about Individual Property Deed

Personal property can be characterized as either tangible or intangible. Examples of tangible personal property include vehicles, furniture, boats, and collectibles. Digital assets, patents, and intellectual property are intangible personal property.
Individual ownership refers to property that is owned in your sole name without any other owners or a beneficiary designation. After you die, property owned in your individual name will usually have to go through probate to get it out of your name and into the names of your loved ones.
Property Ownership All types of property can be owned by individuals or groups. The most common types of ownership are: Sole ownership by a single individual. Joint tenancy: Ownership by two or more people in equal shares. Tenancy in common: A type of joint ownership by two or more people with equal or unequal shares.
DEED. A written document by which the ownership of land is transferred from one person to another.
Individual Property means each parcel of real property, the Improvements thereon and all Personal Property owned by Mortgage Borrower and encumbered by a Mortgage, together with all rights pertaining to such Property and Improvements, as more particularly described in each Mortgage and referred to therein as the
Sole ownership is defined to mean ownership by one person. Being the sole owner, one person enjoys the benefits of the property and is subject to the accompanying burdens, such as the payment of taxes. Subject to applicable federal and state law, a sole owner is free to dispose of property at will.
Sole ownership or tenancy of severalty. By far the most simple, this occurs when a single person owns the property.