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Hi, this is Joe from Prep Beijing. Today, we will be discussing freehold estates. In a freehold estate, you have exclusive rights to possess a property for an indefinite period. In contrast, a leasehold estate is held for a fixed defined period. Types of real estates you should know include fee simple absolute, fee simple defeasible, and life estate. Fee simple absolute is land ownership that cannot be defeated by the previous owner or their heirs, but it is not free from encumbrances. Fee simple defeasible is the greatest interest in a parcel of land one could own, and it is the most common ownership interest in real property. Fee simple ownership represents absolute ownership of real property, but it is limited by the four basic governances.
