Fee Simple Real Estate Essay
Midterm Exam
Principles of Real Estate: Chapters 5 and 6
What is an estate?
An estate in land determines the legally recognized interest the person has in the real property.
There are two main types of estates in real estate
Freehold estate- is owner for an indefinite duration. Time is uncertain. (you own the land) There are three types of Freehold estates.
1. Fee simple absolute
2. Fee simple defeasible
3. Life estates.
Fee simple absolute: gives the real estate holder complete rights to the land with absolute ownership.
The owner in fee simple title can sell it, will it, give it away or retain possession for as long as the person desires.
Fee simple defeasible: limits the estate holder to the terms set forth by the
Principles of Real Estate: Chapters 5 and 6
What is an estate?
An estate in land determines the legally recognized interest the person has in the real property.
There are two main types of estates in real estate
Freehold estate- is owner for an indefinite duration. Time is uncertain. (you own the land) There are three types of Freehold estates.
1. Fee simple absolute
2. Fee simple defeasible
3. Life estates.
Fee simple absolute: gives the real estate holder complete rights to the land with absolute ownership.
The owner in fee simple title can sell it, will it, give it away or retain possession for as long as the person desires.
Fee simple defeasible: limits the estate holder to the terms set forth by the