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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 interest to termination). [1]
This fee simple ownership also spawned timeshare location exchange companies, such as Interval International and RCI, so owners in any given area could exchange their week with owners in other areas. Cancellations, or rescission , of the timeshare contract, remain the industry's biggest problems to date; [ citation needed ] the difficulty has ...
Fee simple ownership is the absolute ownership of real property, in which the owner holds unconditional power over the land, as well as any improvements -- including buildings -- that sit on it.
Under common law, Fee simple is the most complete ownership interest one can have in real property, other than the rare Allodial title. The holder can typically freely sell or otherwise transfer that interest or use it to secure a mortgage loan.
fee simple determinable; fee simple subject to a condition subsequent; fee simple subject to executory limitation; finite estate—limited to lifetimes life estate—fragmented possession and use for duration of someone's life; fee tail—inalienable rights of inheritance for duration of family line; Leasehold estates: rights of possession and ...
Enfeoffment could be made of fees of various feudal tenures, such as fee-tail or fee-simple. [2] The term feoffment derives from a conflation of fee with off (meaning away), i.e. it expresses the concept of alienation of the fee, in the sense of a complete giving away of the ownership.
A common recovery was a legal proceeding in England that enabled lawyers to convert an entailed estate (a form of land ownership also called a fee tail) into absolute ownership, fee simple. [1] This was accomplished through the use of a series of collusive legal procedures, some parts of which were fictional and others unenforceable (and ...
For example, from 1818 to 1846, ... In the U.S., this type of ownership is called fee simple. [56] The Wilshire Regent condominiums in Los Angeles, California, U.S.