fee simple

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The most usual freehold estate in land. Although all land in England is theoretically held by the Crown, the owner of a fee simple (or his or her heirs) will own the land forever and may dispose of it as they wish both during the lifetime of the owner and by will. The land will revert to the Crown only if the owner dies without leaving a will and with no surviving relatives. This is the only type of freehold estate that can now exist in common law, as opposed to in equity.

Subjects: Business and Management.

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