FEE SIMPLE Definition

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FEE SIMPLE is absolute ownership of real property; owner is entitled to the entire property. This includes unencumbered right of disposition during his/her life and upon death the real property passes to his/her heirs. Also known as FEE SIMPLE ABSOLUTE and FEE ABSOLUTE.

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LIMITED PARTNER is a partner in a venture who has no management authority and whose liability is restricted to the amount of his or her investment.

LEMPIRA is a currency of Honduras.

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