Fee Simple

Curtesy
Curtesy refers to a husband's common law right to a life estate in all lands owned by his deceased wife, provided there were issue born of the marriage who are capable of inheriting the estate.
Fee Simple
Fee Simple (or Fee Simple Absolute) refers to the absolute ownership of real property where the owner has unrestricted powers to dispose of the property during their lifetime, and upon death, the property passes to designated heirs. This ownership can only be overridden by eminent domain.
Freehold
A type of estate in land where ownership is held in fee simple, giving the owner complete and indefinite ownership of the property.
Unencumbered Property
Real estate with free and clear title; property owned in fee simple, meaning there are no liens or encumbrances affecting its ownership or title.

Accounting Terms Lexicon

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