What does it mean when a person holds all ownership interests in real property?

When a person holds all ownership interests in real property, the correct interpretation is that they own legal title. This means that they have the ultimate authority over the property, including the rights to use, lease, sell, or otherwise control the property. Legal title signifies full ownership and encompasses all rights associated with the property, such as the right to transfer ownership or make modifications.

Equitable title, on the other hand, pertains to an interest in the property that is recognized by the courts but does not include full ownership rights. A leasehold interest refers to a temporary right to occupy or use the property granted by a lease agreement and does not indicate ownership. Joint tenancy involves shared ownership among multiple individuals where each owns an equal share of the property, including rights of survivorship, which does not apply when one person holds all interests.

In summary, owning all ownership interests equates to holding legal title, which encompasses full ownership rights in the property.