What does fee simple interest entail?

Fee simple interest represents the most complete form of ownership in real estate. It entails having full ownership rights to the property, which includes the right to possess, use, and transfer the property as one wishes. This form of ownership allows the holder to take advantage of all rights associated with the property, with the only exceptions being those rights that are commonly reserved by government entities, such as taxation, eminent domain, and zoning laws. Consequently, fee simple interest is often regarded as the highest ownership interest one can have in real estate, providing maximum control and flexibility compared to other forms of property ownership.

In contrast, other conditions like possessing only limited rights or temporary agreements do not align with the essence of fee simple ownership, which emphasizes a comprehensive and ongoing set of rights.