Ace the Arizona Real Estate Exam 2025 – Unlock Your Property Dreams!

Fee simple ownership is recognized as the highest form of property ownership in terms of control. When a person holds property in fee simple, they have the greatest rights available under the law, including the right to use, occupy, sell, lease, or otherwise transfer the property as they see fit. This ownership is absolute, meaning it is not contingent upon any conditions or limitations, allowing the owner the flexibility to make decisions regarding the property without requiring permission from others or adhering to restrictions that accompany other forms of property ownership.

In contrast, leasehold ownership provides the right to use and occupy a property for a specific period under the terms of a lease, which limits control over the property. Life estate ownership, while granting some control, is restricted to the life of the individual holding the estate and cannot be transferred or inherited beyond their lifetime. Tenancy in common allows multiple owners to share interests in a property, but each owner's ability to control the property is limited by the rights of the other co-owners, particularly concerning decisions that affect the property as a whole. Thus, fee simple ownership stands out as granting the most comprehensive control over a property.