Real Estate - Fee Simple Law and Legal Definition
Fee simple is absolute title to land, free of any conditions, limitations, restrictions, or other claims against the title, which one can sell or pass to another by will or inheritance. A fee simple title has a virtually indefinite duration. It is also called fee simple absolute. Today, the law presumes an intention to grant an estate in fee simple unless an indication to imposes conditions or limitations is clearly stated.
It is most common way real estate is owned in common law countries, and is the most complete ownership interest one can have in real property. Other estates in land include the fee simple conditional, the fee simple defeasible, the fee simple determinable, the fee simple subject to a condition subsequent, the fee simple subject to an executory limitation, and the life estate.
