Is it possible for a husband and wife to own property in severalty?

Prepare for the Metro Brokers Exam with flashcards and multiple choice questions. Each question is accompanied by hints and explanations. Get ready for your certification!

To understand the concept of ownership in severalty, it's important to clarify what it means. Ownership in severalty refers to property being owned exclusively by one individual or entity, meaning that the owner has complete title and control over the property, without any co-ownership or shared interest.

In the context of a husband and wife, they can indeed own property in severalty. This can occur if one spouse purchases the property solely in their name or if property is inherited or gifted to only one spouse. The phrasing of the question implies a limitation that mistakenly assumes a married couple cannot hold property individually.

The other options reflect misunderstandings about ownership structures. Joint bonds or conditions relating to legal separation do not pertain to the central idea of separate ownership in severalty. Additionally, the notion that property cannot be owned separately is incorrect in the context of real estate laws. In summary, a husband and wife can independently own property in severalty without restrictions, highlighting the flexibility of property ownership rights.

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