An estate in fee simple absolute is a type of freehold estate and 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 fee simple estates may transfer, gift, 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 parlance, they are said to run forever.
Also known as fee simple, fee, fee ownership, or estate of inheritance.
Terms, Definitions, and Concepts: Real Estate, Title and Title Insurance, Legal (Law), Management