Definition - What does Fee Simple mean?
Fee simple refers to a state with complete or absolute ownership. It means that the state is not burdened by any liability like debt or interest. An owner with fee simple is not bound by any legal constraint and are free to give their property away or sell it.
Justipedia explains Fee Simple
The word fee is taken form fief, which means feudal landholding. Fee simple ownership is limited by government taxation, police power, eminent domain, and escheat. It can also be further limited by specific condition in deed, certain encumbrances, etc.
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