Term Tuesday: Fee Simple

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Fee Simple is a form of real estate title which means that the owner has absolute ownership of a land parcel and the buildings upon it. This absolute ownership means that the owner is entitled to use, rent, sell or convey the property as he or she wishes.

Though this is considered the "highest form" of ownership, there can be restrictions or limitations. For example, zoning laws or deed restrictions could lead to public utility easements or wastewater easements. Fee simple ownership is still subject to property taxation.