fee simple


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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 ?
The Chicago critique of the fee simple is theoretically significant
a) dispose of the whole of its estate in fee simple in any parcel of Nisga'a Lands to any person; and
British Columbia's title registration system is constructed around the fee simple interest.
However, because excess rent is a real property intangible, separately allocating the present value of excess rent is typically not necessary when providing market value opinions of fee simple estates or leased fee interests.
But if all other factors are equal, an investor should view this property as less risky and apply a discount rate to the leased fee position that is less than the fee simple rate.
This approach is most applicable for estimating the fee simple value.
His critics falsify the situation by clinging to a lease that, in the fee simple situation, is void.
It was a significant accomplishment to acquire both the existing Lanihau Center and the development rights to the adjacent land on a fee simple basis," added Stan Kuriyama, A&B Properties CEO, "allowing us to move forward with plans for a major expansion of the center.
A third option selected by the authors measures the impact that market income shortfalls have on the fee simple estate.
A), (AMEX:BIR/PRA) (the "Company") announced today that the Company has entered into an agreement to purchase 100% of the fee simple interest of Savannah at Citrus Park Apartments, a 264 unit multifamily apartment community located in Tampa, Florida.
The purchase price for fee simple interest is undetermined.
TSX VENTURE:VST) continues to make strong progress on several key fronts: it has drilled or re-entered three new earning wells on Devon fee simple lands, it has acquired additional acreage at the Moundville CBM project in Alabama and continues negotiations at the Boyer joint venture.