What term describes full and complete ownership of real property?

What term describes full and complete ownership of real property?

• A. Life Estate
• B. Fee Tail
• C. Easement
• D. Fee Simple

Answer: (D)

Full and complete ownership of real property is described by the term fee simple. This is the most expansive form of ownership, giving the owner indefinite duration and all rights of possession, use, transfer, or encumbrance. It can be sold, mortgaged, leased, or left to heirs by will, subject only to legitimate government powers (such as taxation, eminent domain, and police power) and any private restrictions that may be in the deed or covenants. Life estate describes ownership only for the duration of a life, ending when that life ends. Easement is a non-possessory right to use someone else’s land, not ownership. Fee tail is an archaic form that limited inheritance to descendants and has largely fallen out of use. Therefore, fee simple best describes full and complete ownership.

Full and complete ownership of real property is described by the term fee simple. This is the most expansive form of ownership, giving the owner indefinite duration and all rights of possession, use, transfer, or encumbrance. It can be sold, mortgaged, leased, or left to heirs by will, subject only to legitimate government powers (such as taxation, eminent domain, and police power) and any private restrictions that may be in the deed or covenants.

Life estate describes ownership only for the duration of a life, ending when that life ends. Easement is a non-possessory right to use someone else’s land, not ownership. Fee tail is an archaic form that limited inheritance to descendants and has largely fallen out of use. Therefore, fee simple best describes full and complete ownership.