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Fee simple
Fee simple Ownership of title to property without any limitation, which can be sold, left at will, or inherited.
RELATED TERMS--------------------------------------
Ownership
The right to possess and use property to the exclusion of others.
Title
1) The rights of ownership and possession of particular property. 2) In real estate usage, title may refer to the instruments or documents by which a right of ownership is established (title documents), or it may refer to the ownership interest one has in the real estate.
Property
The rights of ownership. The right to use, possess, enjoy, and dispose of a thing in every legal way and to exclude everyone else from interfering with these rights.
Will
A written document, properly witnessed, providing for the transfer of title to property owned by the deceased, called the testator.
SIMILAR TERMS--------------------------------------
Fee appraiser
A non-salaried appraiser who is paid a fee for the appraisal assignments performed.
Fee simple absolute
The maximum possible estate or right of ownership of real property, continuing forever.
Fee simple defeasible
An estate in land in which the holder has a fee simple title subject to being divested upon the happening of a specified condition; also called a qualified fee or a defeasible fee.
Fee simple determinable
A fee simple determinable is an estate in real property that exists "so long as," "while" or "during the period" that a certain prescribed use continues.
Fee simple estate
An unconditional, unlimited estate of inheritance that represents the greatest estate and most extensive interest in land that can be enjoyed. It is of perpetual duration.
Fee simple interest
When an owners owns all the rights in a real estate parcel
Fee simple subject to a condition subsequent
A fee simple subject to a condition subsequent is an estate conveyed "provided that," "on the condition that" or "if" it is used for a specific purpose.
Fee title
The maximum possible estate one can possess in real property. A fee title estate is the least limited interest and the most complete and absolute ownership in land; it is of indefinite duration, freely transferable and inheritable.
PREVIOUS AND NEXT TERMS--------------------------------------
Federal tax lien
A lien attached to property for nonpayment of a federal tax.
Federal tax return
The U.S. government's method to identify individual and company's annual tax responsibility. The tax returns identify the income and taxes.
Federal Trade Commission
A federal agency that enforces antitrust and consumer protection laws, including the Truth-in-Lending Act, Fair Credit Billing Act, Fair Credit Reporting Act, Equal Credit Opportunity Act, Fair Debt Collection Practices Act and Home Ownership and Equity Protection Act.
Federal Water Pollution Control Act
Enacted by Congress in 1972, this federal law administered by the EPA regulates the release of pollutants into navigable waters.
Fee appraiser
A non-salaried appraiser who is paid a fee for the appraisal assignments performed.
Fee simple
Fee simple absolute
The maximum possible estate or right of ownership of real property, continuing forever.
Fee simple defeasible
An estate in land in which the holder has a fee simple title subject to being divested upon the happening of a specified condition; also called a qualified fee or a defeasible fee.
Fee simple determinable
A fee simple determinable is an estate in real property that exists "so long as," "while" or "during the period" that a certain prescribed use continues.
Fee simple estate
An unconditional, unlimited estate of inheritance that represents the greatest estate and most extensive interest in land that can be enjoyed. It is of perpetual duration.
Fee simple interest
When an owners owns all the rights in a real estate parcel
This dictionary contains 6433 terms. |
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