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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ARREARS is an unpaid overdue debt, or the state of being behind in payments, e.g. an account in arrears.

EVA see ECONOMIC VALUE ADDED.

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