![]() To hold a fee simple estate is to have absolute ownership of the property, and in fact, is also known as holding “fee simple absolute.” This is the full “bundle of sticks,” as the saying goes, and entitles the holder to all rights and privileges available under the law. ![]() By way of example, please consider the following: ![]() The nature of your ownership interest (i.e., your “estate” in the land) is very much defined by which sticks you hold. Property law professors often colloquially referred to these rights as the “bundle of sticks,” where each “stick” metaphorically represents a right of ownership. Specifically, the various rights accompanying real property ownership can vary in kind, degree, and duration, and include – but are most certainly not limited to – the right to possess, to control, to enjoy, to exclude others, and to dispose of or alienate through sale or abandonment. As with most legal concepts, the question of real estate ownership is not simply a yes or no proposition – like cakes and onions, the answer has layers. ![]()
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