What is the highest possible form of ownership of real property?

The highest possible form of ownership of real property is fee simple absolute. This type of ownership grants the owner full and unconditional rights to the property, meaning they have the right to use, sell, lease, or make alterations without restriction, as long as they comply with local laws and regulations. The ownership is not limited by any terms or conditions, and it lasts indefinitely. Additionally, fee simple absolute is inheritable, allowing the owner's rights to pass on to heirs.

In contrast, fee simple defeasible can have conditions that may cause the ownership to be terminated if certain criteria are not met. A leasehold estate involves rights to use the property temporarily and does not grant ownership. A life estate provides rights to use and control the property for the duration of a person's life, after which the property reverts to another party, limiting the owner's control in the long term. Thus, fee simple absolute represents the most comprehensive and permanent interest one can have in real property.