In-fee definition (idiomatic, law, archaic) Of an estate in land, inherited or owned by one who has the absolute right to dispose of the land as they desire, including the right to select an inheritor of the land.
Fee – A right in law to the use of land; i.e. a fief. Simple – in the unconstrained sense: without limit to the inheritance of heirs; unrestricted as to transfer of ownership.
Fee Owner means the person who owns the fee simple title to the real property leased under a property development and the person's heirs, successors, legal representatives, and assigns. Sample 1.
The owner of land in fee tail is required to pass that land on to their children, who then may be required to pass it to their children. A fee tail is generally created when a deed uses the words "the heirs of his body," as in "to John Doe and the heirs of his body."
A fee simple title is where the owner of the dwelling has full control and freedom of not only the dwelling but the land surrounding it. The owners can enjoy the freedom of a permanent and absolute ownership of the land.
Estate planning optionsSell the property. ... Establish a life estate. ... Gift the property. ... Transfer the deed at death. ... Limited Liability Company. ... Revocable, or living, trust. ... Irrevocable trust. ... Qualified Personal Residence Trust.
fee, also called Fee Simple, in modern common law, an estate of inheritance (land or other realty) over which a person has absolute ownership. The owner may put it virtually to any use—sell it, give it away, rent or lease it, mortgage it, or bequeath it.
Land owned in fee simple is owned completely, without any limitations or conditions. This type of unlimited estate is called absolute. A fee simple is generally created when a deed gives the land with no conditions, usually using the words like "to John Doe" or "to John Doe and his heirs".
Fee Simple Estates There are two kinds of Fee Simple: Absolute or Defeasible.
A fee simple interest that can be terminated at the will of a future interest holder upon the occurrence or non-occurrence of an event or condition. Fee tail: An interest in land that is inheritable by and transferable to only lineal descendants of the original grantee.
His right to the estate and the title is conditional, so he has no legal right to break the entail. Additionally, during this time period, many great English estates often needed their heirs to marry rich young American women, because the majority of them – much like Lord Grantham – are land rich, but cash poor.
fee simple conditional. n. An interest in property that is given by a grantor to the owner that will become a fee simple if a particular condition is met, usually having to do with the estate passing to specific heirs of the owner, and if the condition is not met the estate goes back to the grantor when the owner dies.