What is a “fee simple” estate?

A “fee simple” estate represents the most complete form of property ownership, characterized by its unlimited duration and transferability. This type of estate provides the owner with full rights to the property, including the ability to sell, lease, or bequeath the property without restriction. The owner holds the property indefinitely, subject only to governmental powers such as taxation, zoning laws, and eminent domain.

In contrast, other forms of property ownership are more limited in terms of duration or rights. For instance, some options may imply temporary ownership or restrictions, which do not apply to a fee simple estate. Given that a fee simple estate doesn't impose limitations on how the property can be transferred or used, understanding its comprehensive nature is essential for grasping fundamental property law concepts. This clarity sets a foundation for differentiating between the various types of property ownership encountered in real estate.