NCEES Principles and Practice of Surveying Practice Exam

Which type of estate can be inherited or divested by will or other document?

1. Defeasible fee simple estate

2. Fee

3. Life Estate

4. Simple Property

The correct answer is: Fee

A fee simple estate represents the highest form of property ownership, providing complete control and enjoyment of the property with few limitations. One of the key characteristics of a fee simple estate is that it is inheritable, meaning that the owner can transfer their ownership rights to heirs or beneficiaries through a will or intestate succession if there is no will. This transferability allows the estate to be passed on or divided according to the owner's wishes after their death, in accordance with legal statutes. The concept of a fee simple estate contrasts with other types of estates, such as a life estate, which is limited to the lifetime of the holder and does not transfer to heirs after death. Defeasible fee simple estates can revert to a previous owner or may have conditions that could divest the property, but they are not as straightforward regarding inheritance as the fee simple. Simple property, while it may refer to various forms of ownership, is not a term traditionally used in the same legal context as the fee simple estate. Thus, the fee simple estate allows a clear path for inheritance or divestment as intended by the owner.