Individual ownership/ sole ownership of property

When a property is bought and registered in the name of one individual, s/he alone holds the ownership title of the property. This type of ownership is known as sole ownership or individual ownership of 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.