Fee simple ownership represents absolute ownership of real property but it is limited by the four basic government powers of taxation, eminent domain, police power, and escheat and could also be limited by certain encumbrances or a condition in the deed.

The law recognizes this form of estate (ownership) in real estate as the highest form. The property owner is entitled to full enjoyment of the property.

The duration of this ownership is not limited and can be passed along in a will to the owner's heirs. If an owner of a fee simple dies intestate, the land will descend to the heirs.

Also Known As: "fee ownership" and "estate of inheritance"

Other types of real property ownership include Leasehold, Life Estate, Future Interest, Fee Tail and Concurrent Estate.