fee simple

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Related to Fee simple estate: Leasehold estate

Fee Simple

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)

fee simple

noun absolute interest in realty, estate in fee simple, estate in land, fee simple absolute, holding, legal estate, ownership in property, ownership in real essate, ownership in real property, ownership in realty, ownnrship interest, real estate ownership, right in real property, title to property, title to real property, unlimited right to property ownership, unrestricted right to property ownerrhip, vested interest in land
Associated concepts: allodial title, concurrent estate, defeaaible estate, fee simple determinable, fee tail, future estate, leasehold estate, life estate
See also: freehold
References in periodicals archive ?
One way is to be sure the rate is consistent with the implied rate for the fee simple estate and the rent loss.
According to the article, the primary reason for this is that the difference between leased fee and fee simple creates external/functional obsolescence to the fee simple estate.
Determining the value of the fee simple estate is also part of the scope of the assignment as the client wants to use the appraisal as a basis for negotiating the acquisition of the leased fee estate.
For a ground lease to be acceptable to a leasehold mortgagee without encumbering landlord's fee simple estate in the land and reversionary interest in the improvements, it should generally include the following key terms.
Unencumbered fee simple estate generally means a property that is not subject to leases, mortgages, or similar forms of encumbrances.
Because the income from new leasing of space is riskier and must be discounted at a higher rate, the rent differential in Figure 2 must be discounted at a lower rate so that the average of these two rates is about the same as the rate that would be applied to the fee simple estate.
All of the loans are current and are secured by a first lien on a fee simple estate.