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fee simple legal definition
noun
At common law, the broadest
possible ownership interest in real estate, inheritable by any heir of the
owner.
fee simple absolute
A fee simple with no conditions placed upon it and that
will endure as long as there are descendants of the original owner to inherit
it.
fee simple defeasible
A fee simple that is terminable despite the existence
of heirs, because of the occurrence of a particular event or condition.
fee simple determinable
A fee simple that terminates and reverts to the
grantor upon the occurrence of a particular event or condition; commonly a
grant of property to be used for charitable purposes and that reverts if no
longer used in this way.
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