In this case, “fee” comes from the word “fief,” which you may remember from high school history class. The “fee” in “fee simple” doesn’t have anything to do with money. “It is the highest form of property ownership as it has the fewest restrictions.” “Fee simple is often referred to as freehold ownership,” he continues.
“It is what most people think of when they speak of ‘owning’ land.”
“Fee simple ownership is the most prevalent type of common law estate,” says Vancouver-based realtor Haydn Eviston. We’ll touch on leasehold further down click here for an explanation of strata and condo ownership. It means you own it, right? It’s yours.īut when you buy or sell property, you might come across the term “fee simple.” It’s one of several types of property ownership in Canada, along with condo/strata, leasehold, and others. Normally, you don’t think too hard about what owning a home actually means.
