🏡 What Is Fee Simple in Real Estate?
A fee simple estate — sometimes called fee simple absolute — is the highest and most complete form of property ownership in real estate. It gives the owner full rights to use, control, sell, lease, or bequeath the property without limitation, subject only to local laws and restrictions such as zoning or HOA rules.
How Fee Simple Ownership Works
When a buyer receives a property in fee simple, they own both the land and any structures on it indefinitely. Ownership continues until the property is sold, transferred, or inherited. This differs from other forms of ownership, such as a life estate, where rights end upon the owner’s death.
Fee simple ownership is also distinct from other property ownership types like leasehold or joint tenancy, which can include time limits or shared interests.
Why Fee Simple Ownership Matters
- Complete control: The owner decides how the property is used or transferred.
- Full inheritance rights: Ownership can be willed or passed to heirs.
- Clear title: Fee simple ownership makes title transfer and chain of title records straightforward.
- Financing flexibility: Lenders prefer fee simple ownership since it guarantees clear and perpetual rights.
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