The ownership is unlimited and unconditional. The industry definition has been simplified to: the most absolute and complete ownership possible for a residential property. This is the most commonly used type of ownership. In subdivisions with single family homes on larger lots, it is more common for the homeowners association to manage only entrances, common grounds, parks and pools, while the individual owners maintain their own properties. //-->, The Sideroad: Practical advice straight from the experts In most condo arrangements, condo fees follow a “per square foot” scheme. The condo is clean and well cared for. google_ad_format = "160x90_0ads_al_s"; Fee Simple is recognized as the highest and very best form of ownership in Maui Real Estate . With fee simple absolute, on the other hand, the prior owners need to be willing to walk away and let the new owners do whatever they want -- including a full tear-down of a home or other structure on the property. FS - Fee Simple Tenure; Courtesy of Island Life Homes Listing courtesy of Island Life Homes. Next Best Thing to a Beachfront Home on Maui. Fee (from the old word, feifdom) refers to legal rights in land, and simple means unconstrained. For REPRINTING RIGHTS, A resale certificate is also required to be signed by the association president or manager. google_ad_width = 160; Sign in here. Looking around at how many condo and apartment buildings exist, it's clear that for many people, fee simple ownership is more trouble than it's worth. » all Real Estate articles,