Which of the following best describes fee simple absolute ownership?
Correct Answer
B) The most complete form of property ownership, with no limitations on use or transfer
Fee simple absolute is the highest and most complete form of property ownership recognized in Alaska and throughout the United States. The owner holds the property with no conditions, limitations, or restrictions on use, and may sell, transfer, mortgage, or devise the property freely. It is inheritable and of potentially infinite duration.
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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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