In real estate, fee simple ownership is the highest form of ownership recognized by law. Other parties have no ability to limit the rights of the owner. It is considered as the most complete and strongest form of ownership.
The property owner is entitled to full enjoyment of the property. This means you are free to do whatever you want as long as it is within legal boundaries. However, it should be noted that limitations related to covenants, zoning laws, public welfare infringement, and subdivision or deed restrictions still apply.
Can you transfer fee simple ownership?
A fee simple owner has alienability, which means you are allowed to transfer the rights to ownership any time you want to anyone you want. In case of death, you can also pass on your property to anybody you want through a will.
What if there isn’t a will? Or what if the simple fee owner isn’t able to transfer ownership before death?
Well, in this case, the property will be passed on to the heirs immediately after the simple fee owner’s death. There is no need for any legal documents or language. The heirs will automatically acquire ownership as simple fee owners.
Other Terms for Simple Fee
This type of ownership is also called “absolute ownership”, “estate of inheritance”, as well as “fee ownership”.