What is Fee Simple Ownership?

Fee simple ownership is the most absolute type of property ownership. When you purchase a property under fee simple, you own the land and any buildings on it indefinitely. This type of ownership grants the highest degree of control, allowing owners to sell, lease, or alter the property as they see fit, within legal bounds.

What is Leasehold Ownership?

Leasehold ownership means you own the property, but not the land it stands on. Instead, the land is leased from the landowner (lessor) for a specified period. Lease periods can be quite long, often 50 to 99 years, but when the lease expires, the property reverts to the landowner unless the lease is renewed. It is essentially like renting except for a long period of time.