Property Ownership
In Alaska, the term 'fee simple' in real property law refers to:
AA low-cost, minimal ownership interest
BThe most complete form of ownership, with full rights to use, sell, and pass the property to heirs✓ Correct
COwnership subject to payment of ongoing fees
DA government-controlled form of ownership
Explanation
Fee simple is the most complete form of private property ownership. A fee simple owner has the full bundle of rights: to use, enjoy, sell, lease, mortgage, encumber, and devise the property.
People Also Study
Related Alaska Questions
- In Alaska, the term 'fee simple absolute' describes an ownership interest that:Property Ownership
- An owner who holds real property in 'fee simple absolute' has:Property Ownership
- In Alaska, riparian rights allow a property owner adjacent to a stream to:Property Ownership
- In Alaska, which type of mortgage clause allows the lender to demand full repayment of the loan upon the property's sale?Finance
- What is the purpose of private mortgage insurance (PMI) on an Alaska conventional loan?Finance
- In Alaska, which form of co-ownership includes the right of survivorship so that a deceased owner's share passes automatically to the surviving co-owner(s)?Property Ownership
- Which Alaska land use term describes a use that is allowed in a zone only if specific conditions are met and approved by the zoning board?Land Use & Zoning
- What is the primary purpose of private mortgage insurance (PMI) in Alaska real estate transactions?Finance
Key Terms to Know
Fee Simple
The highest and most complete form of property ownership — absolute ownership with the right to use, sell, or pass the property to heirs.
Tenancy in CommonCo-ownership where two or more people hold undivided interests that need not be equal and pass to each owner's heirs — no right of survivorship.
DeedA written legal instrument used to transfer ownership of real property from one party (grantor) to another (grantee).
Chain of TitleThe sequential record of all transfers of ownership for a piece of property from the original patent holder to the present owner.
Study This Topic
Practice More Alaska Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Alaska Quiz →