fee simple estate
Definition
Highest form of ownership in a piece of land. It represents absolute and unqualified rights of property possession, use, disposition, transfer, and sale, unencumbered by any other interest or estate. Of perpetual duration, it is subject only to the government limitations namely eminent domain, escheat, police power, and taxation.
Use fee simple estate in a sentence
“ The fee simple estate was very hard to determine for our company and we took a long time talking about it. ”
“ You may want to try and figure out a way to get a fee simple estate on a very nice highly sought after property. ”
“ After paying off all the mortgages, loans, and liens, the married couple finally owned their land in fee simple estate. ”
