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Fee Simple |
Also found in: Wikipedia | 0.03 sec. |
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The greatest possible estate in land, wherein the owner has the right to use it, exclusively possess it, commit waste upon it, dispose of it by deed or will, and take its fruits. A fee simple represents absolute ownership of land, and therefore the owner may do whatever he or she chooses with the land. If an owner of a fee simple dies intestate, the land will descend to the heirs. The term fee used independently is an adequate designation of this type of estate in land. The term simple is added to distinguish clearly this estate from other interests in real property. fee simple n. absolute title to land, free of any other claims against the title, which one can sell or pass to another by will or inheritance. This is a redundant form of "fee," but is used to show the fee (absolute title) is not a "conditional fee," or "determinable fee," or "fee tail." Like "fee" it is often used in deeds transferring title as in "Harry Hadit grants to Robert Gotit title in fee simple..." or similar words. (See: fee) |
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? References in periodicals archive |
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there can therefore be no question that when Metropolitan Life purchased the property in fee simple absolute it acquired its beneficial use during the lease term. P&W's fee simple absolute title to the 33-acre parcel was confirmed by the Rhode Island Supreme Court in 1999, and its fee simple absolute title to the 12-acre parcel was confirmed by the Rhode Island Superior Court in 2000. In April, the Rhode Island Supreme Court confirmed the Company's fee simple absolute title to a 33 acre portion of the waterfront site. |
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