In South Dakota, a fee simple absolute estate is:
Correct Answer
B) The highest form of ownership with no conditions or limitations
Fee simple absolute is the most complete form of property ownership. The owner has unlimited duration of ownership, the right to use, sell, lease, or will the property, and there are no conditions that would cause the estate to terminate.
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Related Topics & Key Terms
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Related Concepts
Riparian rights concern properties bordering flowing bodies of water (rivers, streams), while littoral rights concern properties bordering non-flowing bodies of water (lakes, oceans).
The bundle of rights describes the rights associated with property ownership, allowing owners to use, control, enjoy, exclude others from, and dispose of the property.
Community property is a form of ownership recognized in certain states where property acquired during marriage is considered equally owned by both spouses, regardless of who earned the money or whose name is on the title.
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