fee simple

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Related to Fee simple estate: Leasehold estate

fee simple

The maximum possible interest (estate) one can possess in real property is the fee simple absolute.It is unlimited as to duration,transferability,and descendability to heirs.Lesser types of fee simple estates include the fee simple defeasible and the fee simple determinable,both of which may result in loss of the property upon the happening of some event in the future.

References in periodicals archive ?
The appraiser states that this negative effect is minor and concludes a nominal 1% of the fee simple estate as market value to compensate the owner for the easement.
A fee simple estate that may be terminated when a specified event occurs, which may be at any time or not at all.
When one discusses the appropriate property interest to appraise, ad valorem (property) taxation needs to be considered as well, specifically whether BEV should be included in the tax base and whether the fee simple estate or leased fee estate should be taxed.
A third option selected by the authors measures the impact that market income shortfalls have on the fee simple estate.
Because the income from new leasing of space is riskier and must be discounted at a higher rate, the rent differential in Exhibit II must be discounted at a lower rate so that the average of these two rates is about the same as the rate that would be applied to the fee simple estate.
The public lands are held in fee simple estate until an encumbrance is created through a lease or other vehicle.
Appraising the market value of the fee simple estate of a particular property is challenging.