Property Ownership
A 'fee simple absolute' estate in Pennsylvania real estate is best described as:
AOwnership subject to the condition that the land be used for a specific purpose, reverting to the grantor otherwise
BThe most complete form of real property ownership with no conditions or limitations, freely transferable and inheritable✓ Correct
COwnership for a period of years determined by the terms of a long-term lease
DOwnership shared equally among all heirs of a decedent's estate under Pennsylvania intestate law
Explanation
Fee simple absolute is the highest form of real property ownership in Pennsylvania and all U.S.
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Key Terms to Know
Deed
A written legal instrument used to transfer ownership of real property from one party (grantor) to another (grantee).
Fee SimpleThe highest and most complete form of property ownership — absolute ownership with the right to use, sell, or pass the property to heirs.
Eminent DomainThe power of government to take private property for public use, with the requirement to pay the owner just compensation.
ZoningLocal government regulations that control land use by dividing areas into zones specifying permitted uses, building sizes, and densities.
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