Definitions for "SOLE OWNERSHIP"
Type of property ownership where one individual holds legal title to property and has full control of property.
Title held as sole ownership can be held as 1) A Single Man/Woman (someone never married); 2) An Unmarried Man/Woman (someone divorced); 3) A Married Man/Woman, as His/Her Sole and Separate Property (the spouse consents to relinquish all right, title, and interest in the property). Compare Sole Ownership to Co-Ownership.
Ownership of property by a single person or entity.
Sole proprietorship. Business owned by one person having all the rights and obligations.