What is a characteristic of sole ownership?

A characteristic of sole ownership is that it involves ownership by a single individual or company. Sole ownership means that one person or one entity holds full control over the property or business without having to share ownership or decision-making with others. This structure allows the owner to make unilateral decisions regarding the asset or business, simplifying the management process compared to partnerships or corporations where multiple stakeholders can complicate decision-making.

The other choices highlight characteristics found in different ownership structures. Shared ownership and equal interest pertain to multiple individuals holding a stake in the property or business, which is not applicable in sole ownership situations. Transferable ownership interests suggest that ownership can easily pass to others, which is not a defining feature of sole ownership as the individual retains complete control unless they choose to sell or transfer that ownership.