Fee Simple
Fee simple is the most complete form of real property ownership — the owner holds title to the land and any improvements indefinitely, with rights of use, disposition, and inheritance subject only to governmental powers and any encumbrances.
What it means
Fee simple (also 'fee simple absolute') is the highest ownership interest recognized by U.S. common law. The owner can sell, lease, mortgage, gift, bequeath, or develop the property subject to zoning, building codes, private deed restrictions, and other legal constraints. Contrast with leasehold (long-term possessory interest under a ground lease) or easement (right to use another's property for a specific purpose).
Most CRE transactions convey fee simple title. Fee simple is the default assumption in 'property purchase' language unless specified otherwise.
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