What is a fee simple estate?

The fee simple estate (aka fee simple absolute, fee ownership, estate of inheritance) is absolute ownership of the property and entitles the owner to all rights of the property, which are only restricted by law or private restrictions, such as zone ordinances or covenants. At the death of the owner, the estate passes to the owner's heirs.

What is a fee simple in real estate?

The real estate term fee simple describes a landowner’s complete and total ownership of a piece of land and all properties on it. The fee simple owner may do anything they wish on the land as long as it falls within established easements and zoning laws.

What is a fee simple defeasible property?

When you own land completely, without any limitations, it is also known as absolute. The land is still subject to property taxes and the like, though. Fee simple defeasible is a similar type of property ownership. In this case, however, ownership is dependent on very specific, pre-established conditions.