Fee simple

In English law, a fee simple or fee simple absolute is an estate in land, a form of freehold ownership. A "fee" is a vested, inheritable, present possessory interest in land. A "fee simple" is real property held without limit of time (i.e., permanently) under common law, whereas the highest possible form of ownership is a "fee simple absolute", which is without limitations on the land's use (such as qualifiers or conditions that disallow certain uses of the land or subject the vested interest to termination).[1]

The rights of the fee-simple owner are limited by government powers of taxation, compulsory purchase, police power, and escheat, and may also be limited further by certain encumbrances or conditions in the deed, such as, for example, a condition that required the land to be used as a public park, with a reversion interest in the grantor if the condition fails; this is a fee simple conditional.[2]

  1. ^ "What Is Fee Simple In Real Estate?". www.rocketmortgage.com. Retrieved 2023-07-27.
  2. ^ Indiana Court of Appeals (2007). Jensen v. City of New Albany. 868 N.E.2d 525.{{cite book}}: CS1 maint: location (link) CS1 maint: location missing publisher (link)

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