What does fee simple absolute include?
Fee simple absolute is what people usually mean when describing fee simple ownership. Under absolute ownership, owners can own their properties and land forever – as long as they make their mortgage payments and pay their property taxes – and make any changes to them they'd like.
What is an example of a fee simple estate?
For example: To A for as long as the property is used for a museum. A has a fee simple determinable, and will hold the land for as long as it is a museum; the grantor holds a possibility of reverter. If the museum is shut down, the land will automatically be transferred to the grantor.
What is fee simple absolute quizlet?
Fee Simple Absolute (Defined) Absolute ownership. It is of potentially infinite duration with no limitations on its inheritability, and it cannot be divested or end on the happening of any event.
What is a fee simple qualified estate?
A fee simple qualified estate is a fee simple estate that is subject to limitations by the grantor. Examples: A church sells land provided that the grantee does not sell liquor on the property. A husband leaves his property to his wife so long as she doesn't remarry.
What’s the meaning of a fee simple estate quizlet?
Fee Simple Determinable. Freehold estate that ends automatically on the occurrence of some event and title reverts automatically back to the grantor (a future interest known as a possibility of reverter).
What is the difference between fee simple estate and fee simple absolute?
If previous grantors of a fee simple estate do not create any conditions for subsequent grantees, then the title is called fee simple absolute. A fee simple absolute is the highest estate permitted by law, and it gives the holder full possessory rights and obligations now and in the future.
What are the two types of fee simple estate quizlet?
There are two forms of fee simple estate: absolute and defeasible.
What is a fee simple estate quizlet?
Fee Simple Determinable. Freehold estate that ends automatically on the occurrence of some event and title reverts automatically back to the grantor (a future interest known as a possibility of reverter).
Is fee simple the same as fee simple absolute?
A "fee simple" is real property held without limit of time (i.e., permanently) under common law, whereas the highest possible form of ownership is a "fee simple absolute," which is without limitations on the land's use (such as qualifiers or conditions that disallow certain uses of the land or subject the vested …
Why is a fee simple absolute estate the most desirable?
The best form of real property ownership is fee simple absolute, sometimes called a freehold, which means that the owner or owners can do whatever they like with the property, subject only to encumbrances like liens, or local guidelines, such as zoning, taxation or criminal laws.
What is another term for fee simple quizlet?
Fee simple defeasible (qualified fee)