What is a ‘fee simple’ home?
noun absolute interest in realty, estate in fee simple, estate in land, fee simple absolute, holding, legal estate, ownership in property, ownership in real estate, ownership in real property, ownership in realty, ownership interest, real estate ownership, right in real property, title to property, title to real property, unlimited right to property ownership, unrestricted right to property ownership, vested interest in land
Associated concepts: allodial title, concurrent estate, fee simple determinable, fee tail, future estate, leasehold estate, life estate
Burton’s Legal Thesaurus, 4E. Copyright © 2007 by William C. Burton.
What does fee simple home ownership mean in ‘plain english’?
‘Fee Simple’ means that the owner of the property has the highest possible ownership interest in the property and is limited only by government powers of taxation, established land use, police power, etc.