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.

West's Encyclopedia of American Law, edition 2. Copyright 2008 The Gale Group, Inc. All rights reserved.

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)

Copyright © 1981-2005 by Gerald N. Hill and Kathleen T. Hill. All Right reserved.
References in periodicals archive ?
ft.) / 0.07 Step 4: Contributory value of taking $1,714,286 Step 1 minus Step 3: $20,571,429 - $18,857,143 Exhibit 2 Case Study Example, Apportionment Calculation Apportionment of Interests Lessee's interest in fee simple estate 12.622% (Step 1 - Step 2) / Step 1 ($20,571,429 - $17,974,995) / $20,571,429 Lessor's residual interest in fee 87.378% simple estate (1 - 0.12622) Allocation of Award Lessee ($1,714,286 x 0.12622) $216,377 Lessor ($ 1,714,286 - $216,377) or $1,497,909 ($ 1,714,286 x 0.87378) Total Award $1,714,286 Exhibit 3 Case Study Example, Computation of Market Value of Lessee's Leasehold Interest Lessee's rental advantage (120,000 sq.
The fee simple register provides for the registration of estates in fee simple held by individual Nisga'a citizens through the Nisga'a Landholding Transition Act, against which easements, leases, life estates, mortgages of the fee simple estate, mortgages of a lease, restrictive covenant, and, notably, transfers can be registered.
(154) If the distinction between the Aboriginal and fee simple estate to date has rested on these defining characteristics, their melding in the NFA indicate that traditional notions of Aboriginal title will not be very relevant to its interpretation in the future.
Second, the article does not state or imply, and I do not believe, that a fee simple estate is equivalent to the physical real estate being leased at market rent.
The degree of differences between contract and market rents and differences between actual and market occupancy in this volatile market make it more important than ever to understand how to reconcile property value differences between leased fee and fee simple estates and to properly account for the impact of differences in rents and occupancy on the value of a property being appraised.
Appraising the market value of the fee simple estate of a particular property is challenging.
One way is to be sure the rate is consistent with the implied rate for the fee simple estate and the rent loss.
The public lands are held in fee simple estate until an encumbrance is created through a lease or other vehicle.
The appraiser states that this negative effect is minor and concludes a nominal 1% of the fee simple estate as market value to compensate the owner for the easement.
A fee simple estate that may be terminated when a specified event occurs, which may be at any time or not at all.
Although all estates in real property are subject to, and limited by, the four powers of government (i.e., taxation, eminent domain, police power, and escheat), a fee simple estate in real estate implies an absolute unencumbered ownership interest, whereas a leased fee estate implies an ownership interest held by a landlord with the right of use and occupancy conveyed by lease to others.(11) When an appraisal of the market value of the real estate is required, a choice between fee simple and leased fee must be made, depending on the client's needs.