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Fee simple absolute defeasible1/23/2024 ![]() You can do whatever you want, whenever you want and however you want. THIS IS THE MOST COMMON TYPE OF REAL ESTATE OWNERSHIP I’ll say it again for the kids in the back…. Police Power – Uncle Sam regulating (mount up)Įscheat – die without a will or heirs? Back to Uncle Sam…Įminent Domain – government taking your property Ownership via a Fee simple estate gives you absolute power (insert evil laugh here) and is only limited by government powers of…. ![]() ![]() It Can Be Sold: Ownership of the subject property can be sold (or transferred) to someone else. No Set Length of Ownership: As long as you pay Uncle Sam (taxes), pay the mortgage on the property, if you have one, and follow the law, the owner, or the owner’s heirs, can own the property forever. It Can Be Inherited: If the property owner kicks the bucket, the heirs (normally children) will receive the land and buildings. Three characteristics of fee simple absolute are…. Based on our research, this is also the most common type of property ownership. With this type of freehold estate, you can use the land for whatever you want as long as it is legal (zoning laws). It is the purest form of ownership there is. This type of land ownership in land is unrestricted. ![]()
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