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Business Definition for: fee simple or fee absolute or fee simple absolute or fee simple estate
fee simple or fee absolute or fee simple absolute or fee simple estate
absolute ownership of real property ; owner is entitled to the entire property with unconditional power of disposition during the owner's life, and upon his death the property descends to the owner's designated heirs.
Example: The only power that can require Abel to sell his land is eminent domain ; he owns the property in fee simple, so there is no other interest.
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