fee


fee

In law, an inheritable freehold estate in real property (see real and personal property). The word derives from fief, as used in feudal law. Modern property law includes several varieties of fee, including fee simple (alienable and of indefinite duration), fee tail (granted to an individual and his or her descendants but subject to reversion if a tenant dies with no descendants), and life fee or life estate (held only during the lifetime of the grantee).

This entry comes from Encyclopædia Britannica Concise.
For the full entry on fee, visit Britannica.com.

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