Property

  • Life Estate

    A life estate is created when someone is given property for as long as someone lives.  That is, his ownership is measured by someone’s life.  When that life ends, so does the life estate.  The estate returns to the person (or the heirs of the person) who conveyed it.

  • Fee Absolute

    The fee absolute or fee simple absolute is the highest or largest ownership interest in real property.  The interest can theoretically last forever.  The owner may devise the property or convey it as he wishes.