The essential features of an estate in fee simple are that you can transfer the property by deed during your life and leave it to your heirs after your death. It is absolute ownership.
In English Common Law less-than-freehold estates were the rights of tenants who leased real property. Those estates were considered personal property. A less than freehold estate has a predetermined limit of time. The most common in the modern era is a leasehold estate. A non-freehold estate involves possession but not ownership of property.
This is the doctrine in Property Law that a landholder whether he be the owner of an interest in a freehold or non freehold estate can only transfer the interest that he has. For example, if a landowner owns an interest in fee simple absolute, he can devise, transfer (or his heirs will inherit) his entire estate. On the other hand, if he were to transfer a lesser quantum than his interest in fee simple, for example a life estate, then he would maintain the reversionary interest at the natural termination of that estate.
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Although there is a assured shorthold tenancy there is no need for assured with a freehold which is a legal estate in fee simple in possesion the most complete form of ownership of land
Another name for an estate of inheritance is FEE SIMPLE. In contrast, a life estate is not an estate of inheritance because it does not pass to one's heirs at death.
In Manx law, the most common type of freehold tenure is known as "fee simple absolute." This means the owner has full and unrestricted ownership rights over the property, with no limitations or conditions attached.
Ownership in fee simple is the highest form of real property ownership.
Fee Simple
realty; real property; land; fee simple estate
If you own a life estate and want to own the fee simple in that property then you must buy it from the owner.A person with a life estate has the right to the use and possession of the property for the duration of their natural life or whatever terms were made when the life estate was created. Some other person owns the fee simple in the property and they will acquire the use and possession of the property when the life estate has ended.See related question link.If you own a life estate and want to own the fee simple in that property then you must buy it from the owner.A person with a life estate has the right to the use and possession of the property for the duration of their natural life or whatever terms were made when the life estate was created. Some other person owns the fee simple in the property and they will acquire the use and possession of the property when the life estate has ended.See related question link.If you own a life estate and want to own the fee simple in that property then you must buy it from the owner.A person with a life estate has the right to the use and possession of the property for the duration of their natural life or whatever terms were made when the life estate was created. Some other person owns the fee simple in the property and they will acquire the use and possession of the property when the life estate has ended.See related question link.If you own a life estate and want to own the fee simple in that property then you must buy it from the owner.A person with a life estate has the right to the use and possession of the property for the duration of their natural life or whatever terms were made when the life estate was created. Some other person owns the fee simple in the property and they will acquire the use and possession of the property when the life estate has ended.See related question link.
Defeasible fee estate. See the related question link provided below.
Unit title or Stratum title allow for multiple ownership of the land. It is the most common form of ownership for appartment, home unit, town houses and business premises. Each occupier has an estate in fee simple for their strata unit and a proportionate interest with all the other unit occupiers in the common property.