Real Estate Newsletters
Fee simple is the type of ownership that embraces every interest in property. In other words, when a person owns property in fee simple, there are no limitations on his or her right to possess, use, sell, or pass the property on to his or her descendants through a will or a trust. The owner of a fee simple estate owns the whole bundle of rights.
When a person dies with a will, the person is said to have died “testate.” If a person dies without a will, the person is said to have died “intestate.” In the case of an intestate person, the law of intestate succession governs the distribution of the person’s property following the person’s death.
Many homeowners purchase property because of the view. In fact, a good view can add significantly to the value of a home. Generally speaking, however, a property owner has no right to a view.
Often property owners do not know the location of the exact boundaries of their property. Unless the property has been surveyed by a professional surveyor, the issue may be unclear. Alternatives are available to help neighbors settle uncertain boundary lines.
The Comprehensive Environmental Response, Compensation, and Liability Act (CERCLA), which can be found at 42 U.S.C.S. § 9601 et seq., imposes liability on property owners for the cleanup of environmental hazards. Notably, liability accrues under the law even where the property owner was not the cause of the contamination.