April 24, 2012
Michael Petruccelli asks; What is a fee simple estate?
Michael Petruccelli says;
An unconditional, unlimited estate of inheritance that represents the
greatest estate and most extensive interest in land that can be
enjoyed. It is of perpetual duration. When the real estate is in a
condominium project, the unit owner is the exclusive owner only of the
air space within his or her portion of the building (the unit) and is
an owner in common with respect to the land and other common portions
of the property.