fee simple

English - Turkish

Definition of fee simple in English Turkish dictionary

Related Terms

fee simple interest

(Emlak) Mutlak aynı hak

English - English

Definition of fee simple in English English dictionary

The private ownership of property (real estate) in which the owner has the right to control, use and transfer the property at will

(Kanun) Fee simple is an estate in land in common law. It is the most common way real estate is owned in common law countries, and is ordinarily the most complete ownership interest that can be had in real property short of allodial title, which is often reserved for governments. Fee simple ownership represents absolute ownership of real property but it is limited by the four basic government powers of taxation, eminent domain, police power, and escheat and could also be limited by certain encumbrances or a condition in the deed. How ownership is limited by these government powers often involves the shift from allodial title to fee simple such as when uniting with other property owners acceding to property restrictions or municipal regulation

An estate under which the owner is entitled to unrestricted powers to dispose of the property, and which can be left by a will or inherited

The maximum form of ownership, with the right to occupy a property and sell it to a buyer at any time Upon the death of the owner, the property goes to the owner's designated heirs Also known as fee absolute

(also fee interest or fee simple interest) A way of describing full ownership of a piece of land, including all of the legal rights of the property The word "fee" comes from an old English word meaning "land that can be inherited " Less than fee interest is ownership with restricted rights A person buying land that already has a conservation easement is getting less than fee interest

The most extensive tenure allowed under the feudal system allowing the tenant to sell or convey by will or be transfer to a heir if the owner dies intestate In modern law, almost all land is held in fee simple and this is as close as one can get to absolute ownership in common law

Absolute ownership of real property; the greatest possible interest a person can have in real estate

- the greatest possible interest a person can have in real estate

Sometimes called fee or fee simple absolute It is the greatest possible estate or degree in the right of ownership and continues without time limitation

The largest possible interest in real estate When you own property in fee simple, you enjoy substantial rights to it, and may dispose of it as you see fit This includes selling it, using it for any lawful purpose and leaving it to your heirs

An estate under which the owner is entitled to unrestricted powers to dispose of the property, and which can be left by will or inherited Commonly, a synonym for ownership

The preferred type of real estate ownership This type of interval ownership is the opposite of Right-to-Use or lease ownership and continues forever The owner holds a deed in his/her name and the ownership of the property can be bequeathed to heirs [ Return to Term Table ]

An estate under which the owner owns a contract interest in the property and is entitled to the unrestricted enjoyment of the property, including the right to dispose property

Absolute ownership of real property; owner is entitled to the entire property with unconditional power of disposition during the owners life and upon his death the property descends to the owner's designated heirs

An estate in which the owner has unrestricted power to dispose of the property as he wishes, including leaving by will or inheritance It is the greatest interest a person can have in real estate

An estate under which the owner is entitled to unrestricted powers to dispose of the property, and which can be left by will or inherited

The greatest possible interest a person can have in real estate

An estate in real property, by which the owner has the greatest power over the title which it is possible to have, being an absolute estate; an estate of inheritance belonging to the owner, that he may dispose of, trade, or will, as he chooses

The vested ownership interest a person has in real estate, in which the owner has unrestricted power to dispose of the property, by sale, will or inheritance

a fee without limitation to any class of heirs; they can sell it or give it away

Absolute ownership of real property

An estate in which the owner has unrestricted power to dispose of the property as he/she wishes including leaving by will or inheritance It is the greatest interest a person can have in real estate

This type of ownership, also called fee simple absolute, is the maximum interest a person can have in a piece of real estate It entitles the owner to use the property in any manner they see fit, in accordance with state and local laws

The highest level of ownership possible The property owner has unrestricted rights to dispose of the property, leaving by will or inheritance

an estate in which the owner is entitled to the entire property, with unconditional power of disposition during the owner's life, and which descends to the heirs upon the owner's death if the owner dies without a will

An estate in which the owner has unrestricted power to dispose of the property as he wishes, including leaving by will It is the greatest interest a person can have in real estate The opposite would be leased land Finance Charge: The total cost a borrower must pay, directly or indirectly, to obtain credit according to Regulation Z Fixed Rate Mortgage: A loan for which the interest rate and monthly payments do not change during the term of the loan Top G GRI: Graduate, Realtors® Institute A professional designation granted to a member of the national Association of Realtors® who has successfully completed three courses covering law, finance and principles of real estate Top H

The terms "fee" and "fee simple" are substantially synonymous The term "fee" is of old English derivation "Fee simple absolute" is an estate in real property by which the owner has the greatest power over the title which it is possible to have, being an absolute estate In modern use, it expressly established the title of real property in the owner, without limitation or end They may dispose of it by sale, or trade or will, as he chooses

The greatest possible interest a person can have in real estate, including the right to dispose of the property or pass it on to heirs without limitation

Related Terms

fee simple determinable

A defeasible fee created with clear durational language expressing a condition (e.g. "so long as", "until", "while") which causes ownership of a property to revert to the grantor upon the occurrence of that condition

fee simple subject to condition subsequent

A defeasible fee created with language reserving the right of the grantor to reclaim ownership of the land upon the occurrence of a specified condition (e.g. "if X event occurs, grantor reserves the right to reenter and retake"); upon occurrence of the condition, the grantor may decide to retake ownership or not

fee simple subject to executory interest

A defeasible fee created with clear durational language expressing a condition (e.g. "so long as", "until", "while") which causes ownership of a property to revest in a third party identified by the grantor if that condition comes about

fee simple subject to executory limitation

Alternate name for a fee simple subject to executory interest

fee simple interest

(Kanun) The absolute, legal possession and ownership of land, property, or rights, including mineral rights. A fee interest can be sold (in its entirety or in part) or passed on to heirs or successors

fee-simple

Alternative spelling of fee simple

Hyphenation

fee sim·ple

Turkish pronunciation

fi sîmpıl

Pronunciation

/ˈfē ˈsəmpəl/ /ˈfiː ˈsɪmpəl/