Add a second story to the existing house,.Not only that, but property owners also hold the rights to do ANYTHING they want with the land.įor example, the title holder can opt to do the following:
It grants the fee simple owner FULL RIGHTS to the piece of land and all the outbuilding components that come with it – such as buildings, sheds, or garages. It’s referred to as the highest form of real estate or freehold ownership. SO…What Is It?īASICALLY – Fee Simple Ownership pertains to HOW A PERSON OWNS A REAL ESTATE. If you have recently acquired a property, most likely it falls under Fee Simple Ownership. The most common form of homeownership in the United States is actually categorized as Fee Simple Ownership. If you are clueless as to what Fee Simple Ownership is and how it works, you’re in luck as we’ll break it down for you in the sections below. If you have heard of this real estate term or for those who are unsure what this is – YOU’VE COME TO THE RIGHT PLACE.
Not a lot are aware of this, but the majority of people actually have a Fee Simple Estate of the property they currently own.
