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 ?
Within the past two years two major developments--new legislation and a court decision--have changed the federal tax treatment of legal fees incurred in connection with personal damage awards.
If the Fee Determining Official approves the use of "rollover," the official contract file must be documented accordingly and the contractor must be notified.
Fee Real Estate agents packed up ample amounts of underwear, socks and t-shirts and shipped them off to the Church.
If you're moving here with children or other family members, moreover, multiply those fees several times over.
The required display of a fee amount on or at the terminal may be accomplished by displaying the fee on a sign at the terminal or on the terminal screen for a reasonable duration.
A rise in operational costs at the Thunder Bay International Airport has forced administration to increase terminal and landing fees for all airlines using the airport.
Using liquidated home equity for entry fees delivers another significant benefit for both the consumer and the sponsor--legal tax avoidance.
They claim mandatory fees help foster the free exchange of ideas.
In point of fact, however, public policy was the only ground that the two seminal cases involving contingent fee auditors addressed.
A provider may be required to submit a fee schedule to a managed care company.
Court of Appeals for the Ninth Circuit, citing Dague, reduced that figure by one-half, because the district court had doubled the fee awarded to compensate for a contingency fee risk factor.