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Sole Ownership of Land
Sole ownership of land is ownership by one person or entity (such as a partnership or corporation). A person may receive ownership by deed from another person or from a group, as in the following case excerpt:
The appellee and seven others, who were tenants in common of the real estate described in the second paragraph of the complaint, conveyed to the Frankfort & Kokomo Railroad Company the right of way for a railroad across said real estate, and it is admitted that this deed was duly recorded. The company built the road and executed to other parties a mortgage on its track, right of way, and franchises. Subsequently the road was conveyed to and owned for a time by another company, and in June, 1886, the appellant became the owner by purchase at sheriff's sale under a decree of foreclosure of said mortgage. The appellee has become the sole owner of the fee simple by conveyances from her cotenants.[1]
Be sure not to confuse “sole ownership” with “fee simple.” The term “fee simple” means that one has the four rights discussed above. “Sole ownership” means that only one person or entity has rights in the property, whether in “fee simple” or not.
[1] Toledo, St. L. & K. C. R. Co. v. Cosand, 6 Ind. App. 222, 33 N.E. 251, 252 (1893) (emphasis added)
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