Which type of ownership provides the most complete bundle of rights?

The fee simple absolute ownership provides the most complete bundle of rights in real estate. This type of ownership grants the holder full control over the property, including the rights to use, occupy, sell, lease, and transfer the property without any limitations. Essentially, it ensures that the owner has the maximum rights recognized under law, which includes the ability to dispose of the property as they see fit, whether during their lifetime or upon death, through a will or estate planning.

This type of ownership is not restricted by any terms or conditions, which makes it the most advantageous type for property owners seeking to have ultimate control over their real estate. In contrast, other forms of ownership, like leasehold estates, life estates, and tenancies at will, impose specific limitations on the rights of the owners or tenants. A leasehold estate, for example, grants rights only for a specified period and the property reverts to the landlord afterward. A life estate allows use and enjoyment only for the duration of a person’s life, after which rights revert to another party. Tenancy at will provides the least security, as the tenancy can be terminated by either party at any time.

Thus, in terms of the completeness of rights associated with ownership, fee simple absolute stands out