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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PRIVATE CORPORATION is a corporation that ownership is held by the private sector, i.e. individuals or companies.

OBSERVE / OBSERVATION is to watch and test a client action, e.g., taking inventory.

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