Property Ownership
A 'fee simple absolute' estate in NC is best described as:
AOwnership limited by a condition subsequent
BThe most complete form of ownership, with no restrictions on use or transfer✓ Correct
CA leasehold interest for a fixed term
DOwnership shared with the government
Explanation
Fee simple absolute is the highest form of property ownership in NC — the owner holds title indefinitely with the right to use, sell, devise, or encumber the property without restriction.
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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.
Joint TenancyCo-ownership where two or more people hold equal, undivided interests with the right of survivorship — when one owner dies, their share passes to the surviving owners.
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