fee simple Hear it!

fee simple definition - legal

n

At common law, the broadest possible ownership interest in real estate, inheritable by any heir of the owner.
fee simple absolute
A fee simple with no conditions placed upon it and that will endure as long as there are descendants of the original owner to inherit it.
fee simple defeasible
A fee simple that is terminable despite the existence of heirs, because of the occurrence of a particular event or condition.
fee simple determinable
A fee simple that terminates and reverts to the grantor upon the occurrence of a particular event or condition; commonly a grant of property to be used for charitable purposes and that reverts if no longer used in this way.

Webster's New World Law Dictionary Copyright © 2006 by Wiley Publishing, Inc., Hoboken, New Jersey.
Used by arrangement with John Wiley & Sons, Inc.

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