Property Ownership
A fee simple absolute estate in New Hampshire is best described as:
AOwnership that reverts to the grantor at death
BThe highest form of ownership with the most complete bundle of rights✓ Correct
COwnership limited to residential use
DA leasehold interest in real property
Explanation
Fee simple absolute is the highest and most complete form of real property ownership. The owner has unlimited rights to use, sell, mortgage, or devise the property, subject only to governmental powers.
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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.
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.
Fiduciary DutyThe highest legal duty an agent owes to a principal — requiring the agent to act in the principal's best interest above all others.
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