FEE SIMPLE

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 An absolute fee which has been paid for the transfer of assets, beyond which no further encumbrances are held, or payments are due. The process of owning property which has been transferred in complete payment without further obligation of any kind. An absolute or fee-simple estate is one in which the owner is entitled to the entire property, with unconditional power of disposition during his life, and descending to his heirs and legal representatives upon his death intestate.