No one will penalize you even if you decide to tear down the entire property and erect a new one in your design and size. You can build a second house, extend the main bedroom, or build a garage. With a fee simple ownership, you have the right to do whatever you wish on your land. You’re not restricted to anything as long as you have the titles to the property. You’ll have the broadest rights to the property, including the structure, the land, and any minerals under it. What Is Fee Simple Estate Ownership?įee simple means outright ownership. If you’re buying a house in the United States, you have high chances of getting a fee simple because this is the most common ownership in the country.īut do you have any idea what it means to have fee simple absolute ownership? Do you know your rights as a fee simple owner? Let’s have a complete look at what fee simple means and any other details related to it. Fee, simple estate ownership, gives you that right. But that only happens if you have full ownership rights of the property where you have the freedom to do as you wish, including property modifications. Owning a residential property gives you some sense of freedom and happiness.
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