Which estate is known as the highest and most complete form of ownership?

The highest and most complete form of ownership in real estate is a Fee Simple Estate. This type of estate conveys full ownership rights to the property, including the right to use, sell, lease, or will the property without any limitations imposed by a higher authority or previous owner. The owner of a Fee Simple Estate has the greatest level of control and title over the property, making it the most desirable form of ownership.

Fee Simple Estates are characterized by their permanence, as they do not have a defined term or expiration. This contrasts sharply with other forms of ownership, such as leasehold estates, which grant temporary rights and are based on a lease agreement, or easements, which permit specific uses of the property by someone other than the owner. A possessory interest is more general and may not refer specifically to complete ownership, often indicating situations where an individual has rights to use or occupy a property without holding full title. Thus, the Fee Simple Estate is recognized across jurisdictions as the most comprehensive and complete form of property ownership.