Estate in fee simple absolute (Estate in fee simple)
An estate in fee simple absolute is a type of freehold estate; it is the highest and most complete form of land ownership under the common law system. Fee simple estates are limited only by the governmental rights of taxation, eminent domain, escheat, and police power. Holders of estates in fee simple may transfer, give, sell, will (devise), or otherwise dispose of real property in any way they wish, within the confines of the law. Fee simple estates may be held indefinitely; in legal terms, they are said to run forever.
Also known as estate in fee simple, fee simple, fee, fee ownership, or estate of inheritance.
Terms, Definitions, and Concepts: Real Estate, Title and Title Insurance, Appraisal, Auction, Legal (Law), Management
Added: Thu May 29 2008
Last Modified: Wed Jul 09 2008