fee simple


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fee simple

n. pl. fees simple
1. An estate in land of which the inheritor has unqualified ownership and power of disposition.
2. Private ownership of real estate in which the owner has the right to control, use, and transfer the property at will.

fee simple

n
(Law) property law an absolute interest in land over which the holder has complete freedom of disposition during his life. Compare fee tail
[C15: from Anglo-French: fee (or fief) simple]

fee

(fi)

n., v. feed, fee•ing. n.
1. a sum charged or paid, as for professional services or for a privilege: a doctor's fee; an admission fee.
2. Law.
a. an estate of inheritance, either without limitation to a particular class of heirs (fee simple) or limited to one particular class of heirs (fee tail).
b. (in the Middle Ages) estate lands held of a feudal lord in return for services performed.
c. a territory held in fee.
3. a gratuity; tip.
v.t.
4. to give a gratuity to; tip.
5. Chiefly Scot. to hire; employ.
Idioms:
in fee, in full ownership: an estate held in fee.
[1250–1300; Middle English < Anglo-French; Old French fie, variant of fief fief]
fee′less, adj.
ThesaurusAntonymsRelated WordsSynonymsLegend:
Noun1.fee simple - a fee without limitation to any class of heirs; they can sell it or give it away
fee - an interest in land capable of being inherited
References in classic literature ?
At any rate, musty parchments and title-deeds there were none on the island; and I am half inclined to believe that its inhabitants hold their broad valleys in fee simple from Nature herself; to have and to hold, so long as grass grows and water runs; or until their French visitors, by a summary mode of conveyancing, shall appropriate them to their own benefit and behoof.
Because a fee simple valuation presumes that the property is available to be leased at market rates, an appraisal can value the fee simple interest assuming a lease, so long as it assumes a lease that reflects the relevant real estate market.
Target: Fee simple interest in Beverly Hills, California, US-based class A office building
to this "Chicago critique," the fee simple is problematic
With over 14.7 million acres of royalty lands, including over 7.7 million acres of fee simple mineral title (excluding coal), the combined asset base represents the largest independent oil and natural gas royalty position in Canada, with widespread exposure to multiple oil and natural gas resource plays, including an unparalleled position in the Viking light oil play in Western Saskatchewan and the multi-zone Deep Basin fairway of Alberta and British Columbia.
(a) fee simple including the mines and minerals that may be found to exist within, upon or under such lands; or
Further, IRS revenue ruling 67-284 established five factors to be used in determining income exemption: 1) land must be held in trust by the United States; 2) land is restricted and allotted for an individual Indian, not the tribe; 3) income must be directly derived from the land, 4) the statute, treaty, or authority evinces Congressional intent that the allotment be used to protect the Indian; and 5) language of the authority indicates clear Congressional intent that the land is not to be taxed until it is conveyed in fee simple to the allottee (Nilles, 2012).
The second property that the Company's sponsor has placed under contract is a free-standing fee simple Duane Reade pharmacy located at 163-30 Cross Bay Boulevard in Howard Beach, Queens, New York.
The $82-million, 147,000-square-foot high-tech, state-of-the-art printing and production facility on 11.6 fee simple acres in the City of Kapolei is scheduled for a summer 2004 opening.
Typically there are three types of upfront fees: conventional purchase involving fee simple ownership, cooperative or condominium owners paying a one-time fee similar to the conventional home purchase, and the life estate or master trust concept requiring the resident to pay an upfront fee in an amount similar to fee simple purchase.
1031 for a future interest in real property,(1) but a life estate may not be exchanged for a remainder.(2) The exchange of a remainder interest for a fee simple qualifies under Sec.
Fee simple, as most commentators have noted, was a category of property holding in feudal tenure -- one which came |as close to absolute ownership as the system of tenure will allow',(4) and conferred upon the tenant,the right to sell, transfer, or bequeath property directly' (Eberle).