In contrast, fee simple is defined as absolute ownership unencumbered by any other interest or estate. The conveyance of rights to others affects the property's value. For example, a single-family owner-occupied property has fee simple property rights that are absolute and unencumbered, unlike a leasehold estate where property rights are limited to use and occupancy for a stated term. An appraiser often is used to determine to what extent, if any, the transfer of property rights impacts the property's value.
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