Fee simple refers to the most comprehensive and complete interest one can hold in real property; freehold estate.  Also knows as fee or fee simple absolute.    Fee simple ownership represents absolute ownership of real property but is limited by the four basic government powers of taxation, eminent domain, police power, escheat (reversion of property to the state when an owner dies without leaving a will or any known heirs), and it could also be limted by certain encumbrances or a condition in the deed.