Fee Simple Absolute
Definition - What does Fee Simple Absolute mean?
Fee Simple Absolute, also known as fee simple is an absolute ownership of land without any conditions and limitations. Commonly, it is an interest that a person gets in a property that he or she purchases or receives as a gift. The ownership in it is the right to possess or own the property forever without any constraint. Yet, Fee Simple Absolute can itself be administered to several contingencies and conditions related to law and the other private restrictions like zone covenants and ordinances. When the owner dies, the property is passed on to the heirs.
Petropedia explains Fee Simple Absolute
A fee simple which is totally unconditional and gives away the owner a completely unrestricted ownership of the property forever is referred to as Fee Simple Absolute. In the common law countries, it is a way to own the real estate. It is the leading possible ownership interest that one can have in real properties. The ownership is absolute as the interest will never end even on the existence of any condition or event. If the previous contributors of the fee simple do not generate any preconditions for the next heirs, then the title is changed to Fee Simple Absolute. The owner will have the rights of alienation, possession and exclusion.