What does 'Fee Simple' mean in real estate?

'Fee Simple' is a term in real estate that denotes the most complete and absolute form of ownership a person can have of a parcel of land. This type of ownership grants the holder full control and all rights associated with the property, which includes the right to possess it, use it, sell it, lease it, or even give it away. The owner is not restricted by time or conditions, meaning they can hold the property indefinitely and pass it on to heirs.

This form of ownership stands out from other types, such as leasehold estates or life estates, which have restrictions concerning duration or usage. The ownership rights are not contingent upon any conditions, making 'Fee Simple' the most desirable and dominant form of property ownership in real estate transactions.