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Encyclopedia > Fee simple
Property law
Part of the common law series
Acquisition of property
Gift  · Adverse possession  · Deed
Lost, mislaid, and abandoned property
Alienation  · Bailment  · License
Estates in land
Allodial title  · Fee simple  · Fee tail
Life estate  · Defeasible estate
Future interest  · Concurrent estate
Leasehold estate  · Condominiums
Conveyancing of interests in land
Bona fide purchaser  · Torrens title
Estoppel by deed  · Quitclaim deed
Mortgage  · Equitable conversion
Action to quiet title
Limiting control over future use
Restraint on alienation
Rule against perpetuities
Rule in Shelley's Case
Doctrine of worthier title
Nonpossessory interest in land
Easement  · Profit
Covenant running with the land
Equitable servitude
Related topics
Fixtures  · Waste  · Partition
Riparian water rights
Lateral and subjacent support
Assignment  · Nemo dat
Other areas of the common law
Contract law  · Tort law
Wills and trusts
Criminal Law  · Evidence

Fee simple is an estate in land in common law. It is the most common way real estate is owned in common law countries, and is ordinarily the most complete ownership interest that can be had in real property short of allodial title, which is often reserved for governments. Fee simple ownership represents absolute ownership of real property but it is limited by the four basic government powers of taxation, eminent domain, police power, and escheat and could also be limited by certain encumbrances or a condition in the deed. How ownership is limited by these government powers often involves the shift from allodial title to fee simple such as when uniting with other property owners acceding to property restrictions or municipal regulation. Image File history File links This is a lossless scalable vector image. ... This article or section does not cite any references or sources. ... This article concerns the common-law legal system, as contrasted with the civil law legal system; for other meanings of the term, within the field of law, see common law (disambiguation). ... A gift, in the law of property, has a very specific meaning. ... In common law, adverse possession is the name given to the process by which title to anothers real property is acquired without compensation, by, as the name suggests, holding the property in a manner that conflicts with the true owners rights for a specified period of time. ... An English deed written on fine parchment or vellum with seal tag dated 1638. ... {{PropertyLaw}} In the [[common law]] of [[property]], personal belongings that have left the possession of their rightful owners without having directly entered the possession of another person are deemed to be lost, mislaid, or abandoned, depending on the circumstances under which they were found by the next party to come... Alienation, in property law, is the capacity for a piece of property or a property right to be sold or otherwise transferred from one party to another. ... Bailment describes a legal relationship where physical possession of personal property (chattels) is transferred from one person (the bailor) to another person (the bailee) who subsequently holds possession of the property. ... To license or grant license is to give permission. ... Estate is a term used in the common law. ... Allodial title is a concept in some systems of property law. ... This article includes a list of works cited or a list of external links, but its sources remain unclear because it lacks in-text citations. ... A life estate, is a term used in common law to describe the ownership of land for the duration of a persons life. ... A defeasible estate is created when a grantor transfers land conditionally. ... In property law and real estate, a future interest - is an interest that accompanies a defeasible estate. ... A concurrent estate or co-tenancy is a concept in property law, particularly derived from the common law of real property, which describes the various ways in which property can be owned by more than one person at a given time. ... A leasehold estate is an ownership interest in land in which a lessee or a tenant holds real property by some form of title from a lessor or landlord. ... This article refers to a form of housing. ... Conveyancing is the act of transferring the legal title in a property from one person to another. ... A bona fide purchaser (BFP)—or bona fide purchaser for value without notice (BFPFVWN)—in the law of real property, is an innocent party who purchases property for value, without notice of any other partys claim to the title of that property. ... Torrens title is a system of land title where a register of land holdings maintained by the state guarantees indefeasible title to those included in the register. ... Estoppel by deed is a doctrine in the law of real property that arises where a party conveys title to land that he does not own to a bona fide purchaser, and then acquires title to that land. ... A quitclaim deed is a term used in property law to describe a document by which a person disclaims any interest the grantor might have in a piece of real property, and passes that claim to another person (the grantee). ... This article does not cite any references or sources. ... Equitable conversion is a doctrine of the law of real property under which a purchaser of real property becomes the equitable owner of title to the property at the time he/she signs a contract binding him/her to purchase the land at a later date. ... This page is a candidate to be copied to Wiktionary. ... In property law and real estate, a future interest - is an interest that accompanies a defeasible estate. ... A restraint on alienation, in the law of real property, is a clause used in the conveyance of real property that seeks to prohibit the recipient from selling or otherwise transferring his interest in the property. ... The rule against perpetuities is a rule in property law which prohibits a contingent grant or will from vesting outside a certain period of time. ... To meet Wikipedias quality standards, this article or section may require cleanup. ... In the common law of England, the doctrine of worthier title was a legal doctrine that preferred taking title to real estate by descent over taking title by devise or by purchase. ... A nonpossessory interest in land is a term of the law of property to describe any of a category of rights held by one person to use land that is in the possession of another. ... An easement is the right to do something or the right to prevent something over the real property of another. ... A profit, in the law of real estate, is a nonpossessory interest in land similar to the better-known easement, which gives the holder the right to take natural resources such as petroleum, minerals, timber, and wild game from the land of another. ... A covenant running with the land, is a real covenant, in the law of real property. ... An equitable servitude is a term used in the law of real property to describe a nonpossessory interest in land that operates much like a covenant running with the land, requiring the landowner to maintain certain practices with respect to the land (e. ... In the law of real property, fixtures are anything that would otherwise be a chattel that have, by reason of incorporation or affixation, become permanently attached to the real property. ... Waste is a term used in the law of real property to describe a cause of action that can be brought in court to address a change in condition of real property brought about by a current tenant that damages or destroys the value of that property. ... A partition is a term used in the law of real property to describe the court-ordered division of a concurrent estate into separate portions representing the proportionate interests of the tenants. ... Riparian water rights (or simply riparian rights) is a system of allocating water among those who possess land about its source. ... Lateral and subjacent support, in the law of property, describes the right a landowner has to have that land physically supported in its natural state by both adjoining land and underground structures. ... An assignment is a term used with similar meanings in the law of contracts and in the law of real estate. ... Nemo dat quod non habet, literally meaning no one [can] give what they dont have is a legal rule, sometimes called the nemo dat rule that states that the purchase of a possession from someone who has no ownership right to it also denies the purchaser any ownership title. ... A contract is any promise or set of promises made by one party to another for the breach of which the law provides a remedy. ... In the common law, a tort is a civil wrong for which the law provides a remedy. ... This article needs additional references or sources for verification. ... The law of trusts and estates is generally considered the body of law which governs the management of personal affairs and the disposition of property of an individual in anticipation and the event of such persons incapacity or death, also known as the law of successions in civil law. ... Criminal law (also known as penal law) is the body of statutory and common law that deals with crime and the legal punishment of criminal offenses. ... The law of evidence governs the use of testimony (e. ... Estate is a term used in the common law. ... This article concerns the common-law legal system, as contrasted with the civil law legal system; for other meanings of the term, within the field of law, see common law (disambiguation). ... Real estate is a legal term that encompasses land along with anything permanently affixed to the land, such as buildings. ... This article does not cite any references or sources. ... Allodial title is a concept in some systems of property law. ... Eminent domain (U.S.), compulsory purchase (United Kingdom, New Zealand, Ireland), resumption/compulsory acquisition (Australia) or expropriation (Canada, South Africa) in common law legal systems is the inherent power of the state to seize a citizens private property, expropriate private property, or rights in private property, without the owner... This article or section does not cite its references or sources. ... Escheat is an obstruction of the course of descent and the consequent reversion of property to the original grantor. ... An encumbrance is a legal term of art for anything that affects or limits the title of a property, such as mortgages, leases, easements, liens, or restrictions. ... An English deed written on fine parchment or vellum with seal tag dated 1638. ... Allodial title is a concept in some systems of property law. ...

Contents

Common law and history

In English common law theory, the Crown has radical title or the allodium of all land in England, meaning that it is the ultimate "owner" of all land. However, the Crown can grant an abstract entity—called an estate in land—which is what is owned. The fee simple estate is also called "estate in fee simple" or "fee-simple title" and sometimes simply freehold in England and Wales. In the early Norman period, the holder of an estate in fee simple could not sell it, but instead could grant subordinate fee simple estates to third parties in the same parcel of land, a process known as "subinfeudation." The Statute of Quia Emptores adopted in 1290 abolished subinfeudation and instead allowed the sale of fee simple estates. [1]<nowiki>Insert non-formatted text here This article concerns the common-law legal system, as contrasted with the civil law legal system; for other meanings of the term, within the field of law, see common law (disambiguation). ... Throughout the Commonwealth Realms The Crown is an abstract concept which represents the legal authority for the existence of any government. ... Allodial land, or allodium, is literally land which has no lord. ... Estate is a term used in the common law. ... The Norman dynasty is a series of four monarchs, who ruled England from the time of the Norman Conquest in 1066, until 1154. ... Subinfeudation, in English law, the practice by which tenants, holding land under the king or other superior lord, carved out in their turn by sub-letting or alienating a part of their lands new and distinct tenures. ... The Statute of Grand Duchy of Lithuania A statute is a formal, written law of a country or state, written and enacted by its legislative authority, perhaps to then be ratified by the highest executive in the government, and finally published. ... The Statute of Quia Emptores (1290) was a statute passed by Edward I of England that prevented tenants from leasing their lands to others through subinfeudation. ...





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The concept of a "fee" has its origins in feudalism. According to William Blackstone, the great common law commentator, fee simple is the estate in land that a person has when the lands are given to him and his heirs absolutely, without any end or limit put to his estate. Land held in fee simple can be conveyed to whomever its owner pleases; it can be mortgaged or put up as security as well.[citation needed] Roland pledges his fealty to Charlemagne; from a manuscript of a chanson de geste. ... William Blackstone as illustrated in his Commentaries on the Laws of England. ... This article does not cite any references or sources. ...


The owner(s) of real property in fee simple title have the right to own the property during their lifetime and typically have a say in determining who gets to own the property after their death. In a sense, one might say fee simple owners "own" the property "forever". This article does not cite any references or sources. ...


Historically, estates could be limited in time, such as a life estate, which is an interest in lands that terminates upon the grantee's (or another person's) death, even if the land had been granted to a third party, or a term of years (a lease for a specified term, such as in an estate for years). It also could be limited in the way that it was inherited, such as by what was called an "entailment" which created a fee tail. Traditionally, fee tail was created by words of grant such as "to N. and the male heirs of his body"; which would restrict those who could inherit the property. When all those heirs ran out the property would revert to the original grantor's heirs. Most common law countries have abolished entailment by statute. A life estate, is a term used in common law to describe the ownership of land for the duration of a persons life. ... Estate for years refers to a leasehold estate for any specific period of time (the word years is misleading). ... This article includes a list of works cited or a list of external links, but its sources remain unclear because it lacks in-text citations. ...


Life estate

Many common law jurisdictions retain the possibility of creating a life estate, although this is uncommon. In the U.S., life estates are most commonly used in the context of either giving a right to someone in a will to use property for the remainder of that person's (or another person's) life, or reserving to a grantor who is selling property the right to continue using the property for the remainder of his/her life. The right to ownership after the death of the subject person would be called the remainder estate. In England and Wales fee simple is the only freehold estate that remains and a life estate can only be created in equity. A life estate, is a term used in common law to describe the ownership of land for the duration of a persons life. ... The Court of Chancery, London, early 19th century This article is about the concept of equity in the jurisprudence of common law countries. ...


Types of fee simple

If previous grantors of a fee simple estate do not create any conditions for subsequent grantees to own the conveyed property in fee simple title, which is commonly the case these days, then the title is called fee simple absolute. Other fee simple estates in real property include fee simple defeasible (or fee simple determinable) estates. A defeasible estate is created when a grantor places a condition on a fee simple estate (in the deed). Upon the happening of a specified event, the estate may become void or subject to annulment. Two types of defeasible estates are the fee simple determinable and the fee simple subject to condition subsequent. If the grantor uses durational language in the condition such as "to A as long as the land is used for a park" then upon the happening of the specified event, the estate will automatically terminate and revert to the grantor or the grantor's estate. If the grantor uses language such as "but if alcohol is served" then the grantor or the heirs have a right of entry, but the estate does not automatically revert to the grantor. In the United States many of these concepts have been modified by statute in some states. An English deed written on fine parchment or vellum with seal tag dated 1638. ...

Rent

It is often said that no rent or similar obligations are due from the owner of property in fee simple. That is only partially true. For example a rentcharge may exist requiring a freeholder to pay a fixed sum of money closely resembling rent, and many jurisdictions have created financial obligations that may be imposed on a freehold estate, for example in England and Wales, the estate charge. In the United States, fee simple owners are subject to property tax and its funds directed to the municipality's general fund. Other local tax assessments called "specials" may be assessed in addition to the property tax to be applied to specific purposes such as road and water/sewer improvements. Real estate owned as a condominium is usually similarly owned in fee simple, but typically subject to rules in the declaration of condominium or created by the condominium association, such as paying required monthly fees for maintaining the property's common areas. It has been suggested that this article or section be merged with rental agreement. ... A rent charge was a type of financial obligation, which at one time was paid by the owners of freehold land in parts of England, as a commutation of the former obligation to pay tithes. ... Property tax, millage tax is an ad valorem tax that an owner of real estate or other property pays on the value of the property being taxed. ... This article refers to a form of housing. ...


Etymology

Fee - A right in law to the use of land; i.e. a fief. Simple - in the unconstrained sense: Not to be confused with Entomology, the study of insects. ... Under the system of feudalism, a fiefdom, fief, feud or fee, consisted of heritable lands or revenue-producing property granted by a liege lord in return for a vassal knights service (usually fealty, military service, and security). ...

  1. without limit to the inheritance of heirs;
  2. unrestricted as to transfer of ownership.

See also


  Results from FactBites:
 
GSCCCA.org - Glossary (2601 words)
A state-licensed agent who, for a fee, acts for property owners in real estate transactions, within the scope of state law.
Land and tenements; an estate; the subject matter of a conveyance.
Fees paid by borrowers for the privilege of retiring a loan early.
Fee simple - Wikipedia, the free encyclopedia (650 words)
Fee simple, also known as fee simple absolute, is an estate in land in common law.
The fee simple estate is also called "estate in fee simple" or "fee-simple title." and sometimes simply freehold in England and Wales.
According to William Blackstone, the great common law commentator, fee simple is the estate in land which a person has when the lands are given to him and his heirs absolutely, without any end or limit put to his estate.
  More results at FactBites »

 
 

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