Fee simple is an ownership interest in real property that is the most full, unlimited, and absolute property interest recognized by law. This ownership interest of title in fee simple is also referred to as fee simple absolute; estate in fee simple; fee simple title; or simply fee, and the term is usually used to indicate the real property ownership interest a seller is transferring to a buyer.

The rights of a fee simple property owner are limited by the government’s power to tax the land (property taxes) and to purchase the land through the compulsory process mandated by state law—often as provided in the state’s constitution or in the state’s statutes—which is known as eminent domain.

In limited circumstances fee simple ownership may also be subject to the state’s police powers, the law of escheat (when the property owner dies without a will and without heirs), and encumbrances or deed restrictions on the use of the land.

In Connecticut, fee simple ownership represents the most comprehensive type of real estate ownership. As a fee simple owner, one has the right to possess, use, and dispose of the property without any limitations, except those imposed by law. The rights associated with fee simple ownership, however, are subject to certain governmental powers. These include the obligation to pay property taxes to the state and local municipalities. Additionally, the government may exercise its power of eminent domain to acquire private property for public use, provided that the owner is given just compensation, as outlined in both the U.S. Constitution and Connecticut state law. Furthermore, fee simple ownership may be limited by the state's police powers, which allow for regulations to protect public health, safety, and welfare. In the event that a property owner passes away intestate (without a will) and without any heirs, the property may escheat, or revert, to the state. Lastly, the use of fee simple property may be restricted by encumbrances or deed restrictions, which are conditions placed on the property that limit its use or the owner's ability to convey it.