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Fee simple definition

Fee simple means an absolute estate or ownership in property, including unlimited power of alienation.
Fee simple means an absolute estate or ownership in property including unlimited power of alienation, except as to any and all lands acquired or taken for highway, road, or street purposes. Where lands are taken for such purposes, "fee simple" shall not be deemed to include any oil, gas, or fluid mineral rights.
Fee simple means a legal fee simple absolute in possession;

Examples of Fee simple in a sentence

  • In consideration for the extension of the Term, Lessee shall pay a fee to Lessor (the “Extension Fee”) that is based on (a) how many calendar months still remain in the then-current Term at the time of the extension, (b) how many full calendar months the Lease is to be extended from the then-current Lease Expiration Date, and (c) the then-current Fee Simple Land Value, as defined in Section 1.5 below.

  • The Fee Simple Land Value of the Parcel shall be established for purposes of calculating the Extension Fee as described in Schedule 1.5 (the “Establishment of Fee Simple Land Value”).

  • LESSOR: THE BOARD OF TRUSTEES OF THE XXXXXX XXXXXXXX JUNIOR UNIVERSITY By: Its: LESSEE: Print Name: A/75456462.7 A/75456462.7 Lessee Request Lessee hereby requests that Lessor engage a Qualified Appraiser at Lessor’s sole expense to conduct an appraisal of the Fee Simple Land Value of the Parcel (the “Lessor Appraisal”) in accordance with the Appraisal Guidelines attached to the Lease Amendment.

  • The closing of the Third-Party Sale may occur prior to the completion of the Lease extension, but the third-party purchaser shall not be entitled to the Lease extension and Lessor will not execute the Extension Amendment until the process for determining the Fee Simple Land Value described in Schedule 1.5 has been completed, all requirements under Section 2.6(h) have been met, and the Extension Fee has been finally calculated and paid to Lessor (through escrow or otherwise).

  • Once the Fee Simple Land Value of the Parcel is determined pursuant to the process described in Section 1.5 and the Extension Fee has been calculated, or in the event of any change in the Extension Fee described in Section 1.6, Lessee shall have the right to withdraw the Extension Notice by written notice to Lessor, in which case Lessee shall not be obligated to pay the Extension Fee and the Term shall not be extended.


More Definitions of Fee simple

Fee simple means absolute ownership in land, unencumbered by any other interest or estate.
Fee simple means full ownership; the term “personal property” shall mean movable property; the term “easement” shall mean servitude; the term “buildings” shall include other constructions; the term “fixtures” shall mean “component parts;” the term “county” shall mean parish; the termsdeed in lieu of foreclosure,” “conveyance in lieu of foreclosure” and words of similar import shall mean a dation en paiement; the term “tenancy at sufferance” in Section 29 shall mean a month to month tenancy and/or a reconducted lease; and the term “eminent domain” shall include “expropriation”.
Fee simple means the estate in fee simple in possession in an hereditament free from any lesser estates or interests therein or any encumbrances thereon, or any burden, charge or restriction other than any restriction created by crown grant or by or under any law;
Fee simple means the most absolute and unqualified interest that can be held in land and indicates that the owner is free to hold the land in perpetuity and transfer it without hindrance;
Fee simple means an absolute estate or ownership in property including unlimited
Fee simple. – means ownership of the full interest in real estate.
Fee simple means absolute perfect title. Frink v. Darst, 14 Ill. 304, 309 (1853). The term is one that defines “the quantity of the estate.” Id. Since 1913, the words “fee simple” have been in the enabling act governing forest preserve districts in Illinois. See Perkins v. Board of Commissioners, 271 Ill. 449, 456 (1916) (upholding the constitutionality of the Forest Preserve Act of June 27, 1913, which gave commissioners of forest preserve districts the power to acquire land, title to which shall be taken in fee simple absolute “by gift, grant, devise, or purchase, or by condemnation”). Between 1913 and 1977, the General Assembly amended the enabling act 10 times, preserving the words “fee simple” in each version. In this context, we acknowledge that “when the General Assembly amends a statute, portions of the old law which are repeated *** are regarded as a continuation of the existing law and not the enactment of new law upon the subject.” People ex rel. Brenza v. Fleetwood, 413 Ill. 530, 547 (1952). In 1977, the Illinois legislature passed the District Act, which pertained to counties of 3 million or more people, while the original enabling act pertained to the rest of the state. 70 ILCS 805/6 (West 2012); see 80th Ill. Gen. Assem., House Bill 1603, 1977 Sess.