PSI Property Ownership Practice Exam 2025 – All-in-One Guide to Master Your Property Certification!

Sole ownership refers to a property ownership structure where one individual holds complete and exclusive rights to the property. This means that the owner has full control over the property, including the rights to sell, lease, or modify it without the need for consent from others. Sole ownership provides the owner with total autonomy over their asset, free from the influence or input of co-owners.

In contrast, the other options describe different ownership arrangements. For example, ownership by multiple parties at the same time indicates joint or shared ownership, which does not apply in sole ownership scenarios. Similarly, shared rights with another party imply a partnership or co-ownership rather than individual ownership. Ownership limited to family members would suggest a type of restricted title or deed, often pertaining to family law, which also does not reflect the broader concept of sole ownership applicable to any individual, regardless of familial status. Thus, exclusive ownership by an individual accurately captures the essence of sole ownership within property ownership terminology.