|
Information > Financial Terms > This page Fee Simple The fee simple absolute is the greatest estate in land and is characterized by infinite duration, full possession and enjoyment, free alienation, and descendability and devisability to the heirs of the owner. The fee simple defeasible is a fee which will come to an end automatically at the time specified in the instrument creating it, no reentry by the grantor or his heirs being necessary to terminate it. The fee simple subject to condition subsequent is a fee which will terminate upon the breach of a condition subsequent attached thereto and reentry by the grantor or his heirs. |