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Fee Simple
Updated
January 19, 2023
Fee simple refers to the method by which people own real estate. Assume you acquire a house from a seller in the United States. You will now enjoy fee simple ownership of this property in the great majority of circumstances. You take complete ownership of a piece of land and any structures that sit on it with fee simple. When you buy a house, you own the ground, the home, and any outbuildings on the property, such as sheds, garages, or coach houses. You have the right to do whatever you want with your land and its properties if you own it in fee simple. This means you can add the main bedroom, build a second-story addition, build a new garage, or knock down the entire house and start again.
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