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A fee simple absolute is the highest estate permitted by law, and it gives the holder full possessory rights and obligations now and in the future. Other fee simple estates in real property include fee simple defeasible (or fee simple determinable) estates. A defeasible estate is created when a grantor places a condition on a fee simple estate ...
A future interest following a fee simple absolute cannot be a remainder because of the preceding infinite duration. For example: A person, A, conveys (gives) a piece of real property called "Blackacre" "to B for life, and then to C and her heirs". B receives a life estate in Blackacre.
Fee simple ownership is the absolute ownership of real property, in which the owner holds unconditional power over the land, as well as any improvements -- including buildings -- that sit on it ...
In most states, full ownership of land is known as fee simple, fee simple absolute, or fee. [14] Fee simple refers to a present interest in the land, which continues indefinitely into the future. [14] One other type of ownership is the defeasible fee, which is like fee simple, except that it can end upon some event occurring. [14]
A fee simple determinable is an estate that will end automatically when the stated event or condition occurs. The interest will revert to the grantor or the heirs of the grantor. Normally, a possibility of reverter follows a fee simple determinable. However, a possibility of reverter does not follow a fee simple determinable subject to an ...
For example, perfection of a mechanic's lien takes some, but not all, rights out of the bundle held by the owner. Extinguishing that lien returns those rights or "sticks" to the bundle held by the owner. In the United States (and under common law) the fullest possible title to real estate is called "fee simple absolute." Even the US federal ...
After that, the doctrine of merger operated on the two successive freehold estates placed in the same purchaser (B's life estate and B's remainder in fee simple) and converted them into a single fee simple absolute in B. B's heirs, necessarily ascertained only at B's death, [b] could only take B's fee simple by descent and had to pay the tax.
The most common and perhaps most absolute type of estate, under which the tenant enjoys the greatest discretion over the disposal of the property. Fee simple conditional: An estate lasting forever as long as one or more conditions stipulated by the deed's grantor does not occur.