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The greatest possible interest a person can have in real estate. An estate under which the owner is entitled to unrestricted powers to dispose of the property, and which can be left by will or inherited. Commonly, a synonym for ownership. An unconditional, unlimited estate of inheritance that represents the greatest estate and most extensive interest in land that can be enjoyed. It is of perpetual duration. When the real estate is in a condominium project, the unit owner is the exclusive owner only of the air space within his or her portion of the building (the unit) and is an owner in common with respect to the land and other common portions of the property.

At common law, in order to convey to a natural person a title in fee simple in real property, the document must run from the grantor to the grantee and 'his heirs.' 2 Thompson, Real Property (Perm. Ed.) § 734; 7 id. § 3534; 1 Tiffany, Real Property (3d Ed.) § 28. If the word 'heirs' does not appear in the premises of a deed, it must appear in the habendum. 1 Swift's Digest, pp. 77, 122; see Chappell v. New ...

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