Deed of Trust

Question: Fee simple definition?

Im transfering deed ownership for my home from a partnership to a trust.. The county clerks office expressed the term Fee Simple in its paperwork does this term defines across all types of ownership ie persons, corps,partnership trust etc? or only pertained to a person?

Answer: The two most common forms of ownership are Fee Simple Leasehold. Fee Simple is most common and does apply to any owner crossing all types of ownership as you have stated. Lenders prefer this type of ownership to lend against.

Leasehold is where a person has paid for the right to occupy the land and/or building for a period of time (extended). Leaseholds can be bought & sold but the tenant remains for the duration of the lease.

Simon says... Update your Family Trust for Bamford