Upon the death of the owner, if no provision has been made for its distribution, the owner's heirs will automatically inherit the land.Ī life estate is an interest in property that does not amount to ownership because it is limited by a term of life, either of the individual in whom the right is vested or some other person, The law views this type of estate as perpetual.
The person who holds real property in fee simple absolute can do whatever he wants with it, such as grow crops, remove trees, build on it, sell it, or dispose of it by will. The fee simple absolute is inheritable the life estate is not.Ī fee simple absolute is the most extensive interest in real property that an individual can possess because it is limited completely to the individual and his heirs, assigns forever, and is not subject to any limitations or conditions. The two basic types of freehold estates in the United States are the fee simple absolute and the life estate. An individual who is in possession of a freehold estate has seisin, which means the right to immediate possession of the land. Freehold Estate A freehold estate is an estate in real property that is of uncertain duration.
