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Simple English definitions for legal terms
in fee simple
Read a random definition: failing-company doctrine
A quick definition of in fee simple:
In fee simple: This means that someone owns a piece of land or property without any restrictions or limitations. They have complete control over it and can do whatever they want with it. It's like having a toy that belongs only to you and you can play with it however you like.
A more thorough explanation:
Term: in fee simple
Definition: Holding clear title to real property.
Example: John owns a house in fee simple, which means he has complete ownership and control over the property.
Explanation: When someone owns property in fee simple, they have the highest form of ownership possible. This means they have complete control over the property, including the right to sell, lease, or transfer it to someone else. The example illustrates this by showing that John has complete ownership and control over his house.