Property Ownership
What is 'fee simple absolute' ownership, the most complete form of real property ownership?
AA. Ownership subject to government taxation and eminent domain only; otherwise unrestricted
BB. The most complete form of ownership with the broadest set of rights; transferable by sale, gift, or inheritance with no limitations✓ Correct
CC. Ownership requiring the property to remain in the family (cannot be sold)
DD. Ownership lasting for a fixed period as determined in the deed
Explanation
Fee simple absolute is the most complete form of real property ownership. The owner has maximum rights: to use, sell, lease, mortgage, or transfer the property. While subject to government restrictions (taxes, zoning, eminent domain, police power), it is the most unrestricted form of private ownership.
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