What does 'fee simple' refer to in property ownership?

'Fee simple' is a term used in property law that denotes one of the most comprehensive forms of ownership. It signifies absolute ownership of a property, meaning that the owner has full rights to use, sell, or transfer the property as they see fit without any limitations on the duration of ownership. This type of ownership is not subject to any conditions or restrictions that could cause it to terminate after a certain period, making it the most complete and unrestricted form of ownership available.

The concept of 'fee simple' also implies that the owner has the right to pass on the property to heirs or sell it, ensuring that the ownership can continue indefinitely as long as the property is legally transferred in accordance with applicable laws. This permanence and control is what distinguishes it from other forms of ownership, which may be temporary, partial, or subject to specific conditions and uses.