Property Ownership
A fee simple absolute estate in Wyoming means the owner:
AHas the right to use the property only during their lifetime
BHas complete ownership with the right to use, sell, or convey the property without condition✓ Correct
COwns the property subject to a condition subsequent
DHas ownership that cannot be inherited
Explanation
Fee simple absolute is the highest form of ownership. The owner has complete control over the property including the rights to use, lease, sell, mortgage, or devise the property, and it can be inherited 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.
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.
Tenancy in CommonCo-ownership where two or more people hold undivided interests that need not be equal and pass to each owner's heirs — no right of survivorship.
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