What is the highest form of ownership in real estate known as?

The highest form of ownership in real estate is known as fee simple absolute. This type of ownership grants the owner complete control over the property, and it is characterized by the maximum rights that can be held in real estate. A fee simple absolute allows the owner to use the property in any lawful manner, transfer it, sell it, or leave it to heirs without any conditions or limitations.

In contrast, other forms of ownership have specific restrictions or conditions. For example, a leasehold estate grants possession of property for a limited time but does not provide full ownership rights, as the property ultimately remains with the landlord. A life estate is an interest in real property that lasts for the lifetime of a specific individual, after which the property will revert to the original owner or their heirs. Lastly, tenancy in common refers to a shared ownership arrangement among multiple parties, where each owner holds an undivided interest in the property without rights of survivorship.

Thus, fee simple absolute is considered the pinnacle of property ownership due to the comprehensive rights it confers on the owner.