Property Ownership
A fee simple absolute estate in North Carolina is:
AOwnership that ends at death
BThe highest form of ownership with no conditions or limitations✓ Correct
COwnership limited to commercial use
DA leasehold estate
Explanation
Fee simple absolute is the highest and most complete form of property ownership, with no restrictions on use, no conditions, and inheritable by heirs.
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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).
EasementA non-possessory right to use another person's land for a specific purpose.
EncumbranceAny claim, lien, charge, or liability attached to real property that affects its value or limits its use.
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