If you want to sell your home, you need to do more than just signing a home sale contract and handing off the keys to the new owner. Your home can actually be sold to a new buyer in many different ways. One of the most thorough of the many options is to transfer your land in fee simple.
At its core, fee simple, which is sometimes called fee simple absolute, is an estate in land. A number of different varieties of both freehold and leasehold estates exist. Land that is generally yours free and clear and can be transferred at will whenever you like is what owning a freehold estate entails. Estates in which the interest you own is subject to a larger interest, on the other hand, are what are known as leasehold estates. In the form of a freehold estate itself, that interest belongs to the landowner.
Taking the form of a freehold estate, fee simple is an estate in land, as mentioned previously. It is the most common way to own property in common law countries like the United States. Of all the property means of ownership, it is also the most complete. Allodial title is the only option that exceeds fee simple in terms of breadth and freedom. Government entities, however, are usually the ones for whom allodial titles is usually reserved.
Consequently, fee simple is a very acceptable and thorough way to transfer ownership of your property to someone else. While fee simple does represent an absolute ownership in the property in question, it is still subject to four basic government powers. These are taxation, eminent domain, police power and escheat. It's also possible that an encumbrance like a lien that is on the property or a deed restriction could limit ownership in that regard.
When it comes to transferring your property ownership to a new buyer, fee simple is overall the way to go. Most non-governmental property owners can hope to acquire nothing more comprehensive and complete than this in terms of ownership. Absent limitations like government powers, encumbrances or conditions in the deed, fee simple is the most thorough way to ensure property transferability of the ownership of your property to a new owner.
At its core, fee simple, which is sometimes called fee simple absolute, is an estate in land. A number of different varieties of both freehold and leasehold estates exist. Land that is generally yours free and clear and can be transferred at will whenever you like is what owning a freehold estate entails. Estates in which the interest you own is subject to a larger interest, on the other hand, are what are known as leasehold estates. In the form of a freehold estate itself, that interest belongs to the landowner.
Taking the form of a freehold estate, fee simple is an estate in land, as mentioned previously. It is the most common way to own property in common law countries like the United States. Of all the property means of ownership, it is also the most complete. Allodial title is the only option that exceeds fee simple in terms of breadth and freedom. Government entities, however, are usually the ones for whom allodial titles is usually reserved.
Consequently, fee simple is a very acceptable and thorough way to transfer ownership of your property to someone else. While fee simple does represent an absolute ownership in the property in question, it is still subject to four basic government powers. These are taxation, eminent domain, police power and escheat. It's also possible that an encumbrance like a lien that is on the property or a deed restriction could limit ownership in that regard.
When it comes to transferring your property ownership to a new buyer, fee simple is overall the way to go. Most non-governmental property owners can hope to acquire nothing more comprehensive and complete than this in terms of ownership. Absent limitations like government powers, encumbrances or conditions in the deed, fee simple is the most thorough way to ensure property transferability of the ownership of your property to a new owner.
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