fee

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Fee

A compensation paid for particular acts, services, or labor, generally those that are performed in the line of official duties or a particular profession. An interest in land; an estate of inheritance.

An estate is an interest in land, and a fee, in this sense, is the shortened version of the phrase fee simple. A fee simple is the greatest estate that an individual may have in the land because it is total ownership of the land including all structures attached thereto. It is complete ownership absent all conditions, limitations, or restrictions upon alienation, which is its sale or transfer to another.

fee

n. 1) absolute title in land, from old French, fief, for "payment," since lands were originally given by lords to those who served them. It often appears in deeds which transfer title as "Mary Jo Rock grants to Howard Takitall in fee..." or similar phraseology. The word "fee" can be modified to show that the title was "conditional" on some occurrence or could be terminated ("determinable") upon a future event.. 2) a charge for services. (See: fee simple)

fee

(Charge), noun charge for services, compensation, compensation for labor, compensation for professional service, consideration, cost, disbursement, dues, exactment, expenditure, expense, fare, fixed charge, merces, payment, price, recompense, reward, toll, wage
Associated concepts: attorney's fee, counsel fees, reasonnble fee, splitting a fee

fee

(Estate), noun absolute inheritance, absolute interrst in realty, corporal hereditament, feod, feud, fief, hereditament, holding, interest, land, landed estate, landed property, lands, legal estate, property, real estate, real property, realty, right of possession, title, unconditional inheritance, unlimited inheritance, unrestricted inheritance, vested interest in land
Associated concepts: absolute fee, base fee, conditional fee, contingent fee, defeasible estate, determinable fee, fee simple, fee tail, limited fee, qualified fee
Foreign phrases: Feodum est quod quis tenet ex quaaunque causa sive sit tenementum sive redditus.A fee is that which any one holds from whatever cause, whether it be tenement or rent.
See also: advance, brokerage, charge, compensation, cost, due, excise, expense, fare, honorarium, pay, payment, pension, perquisite, price, rate, real estate, recompense, remittance, rent, reward, tax, toll, wage

fee

in English law an interest in land that was inheritable, but the term is now only relevant in the context of the phrase FEE SIMPLE ABSOLUTE IN POSSESSION. In Scots law, used to denote the full and unlimited right in capital or land that is otherwise subject to the personal servitude of a LIFE RENT.
References in periodicals archive ?
Prevailing charge files include information on pricing locality, type of service, specialty, HCPCS codes and modifiers, the 50th percentile customary fees, and the 75th percentile adjusted prevailing fees.
Though it may not be stated within the policy form, some carriers will allow the insured to appoint an attorney of choice, provided the attorney has expertise in the field and charges reasonable and customary fees
5 basis points of the USD74m borrowing capacity besides other customary fees associated with the amendment.