Fee Simple

Business, Legal & Accounting Glossary

Definition: Fee Simple

What is the dictionary definition of Fee Simple?

Dictionary Definition

n. absolute title to land, free of any other claims against the title, which one can sell or pass to another by will or inheritance. This is a redundant form of “fee,” but is used to show the fee (absolute title) is not a “conditional fee,” or “determinable fee,” or “fee tail.” Like “fee” it is often used in deeds transferring title, as in “Harry Hadit grants to Robert Gotit title in fee simple” or similar words.

Full Definition of Fee Simple

A ‘fee simple’ interest in land (see: Interestland and property) is a meta of Freehold interest that allows its owner and his general heirs the enjoyment of the land indefinitely. As with all freeholds, the fee simple is not conditional on the payment of rents (although it may be attached to a Rentcharge) and is not derived from the title of anyone else (with the notional exception of the Crown, perhaps). Historically there were several metas of freehold interest, including different metas of fee simple. The most important of these were the Entail (‘fee tail’) and the Life estate, both of which were lesser interests with an ultimate Reversion to the fee simple owner. Any of these interests could be ‘In possession’ or ‘In remainder’. Since the Law Of Property Act (1925), there has been only one freehold: the Fee simple absolute in possession. This means that the term ‘freehold’ may be used in a technical sense but, more often than not, is used as a shorthand for ‘fee simple absolute in possession’.

Cite Term

To help you cite our definitions in your bibliography, here is the proper citation layout for the three major formatting styles, with all of the relevant information filled in.

Page URL
Modern Language Association (MLA):
Fee Simple. PayrollHeaven.com. Payroll & Accounting Heaven Ltd. September 27, 2021 https://payrollheaven.com/define/fee-simple/.
Chicago Manual of Style (CMS):
Fee Simple. PayrollHeaven.com. Payroll & Accounting Heaven Ltd. https://payrollheaven.com/define/fee-simple/ (accessed: September 27, 2021).
American Psychological Association (APA):
Fee Simple. PayrollHeaven.com. Retrieved September 27, 2021, from PayrollHeaven.com website: https://payrollheaven.com/define/fee-simple/

Definition Sources

Definitions for Fee Simple are sourced/syndicated and enhanced from:

  • A Dictionary of Economics (Oxford Quick Reference)
  • Oxford Dictionary Of Accounting
  • Oxford Dictionary Of Business & Management

This glossary post was last updated: 28th April, 2020 | 2 Views.