Which type of ownership represents the highest degree of ownership in real property?

The type of ownership that represents the highest degree of ownership in real property is fee simple absolute. This form of ownership grants the owner full and unrestricted rights over the property. They have complete control to use, sell, lease, or transfer the property as they see fit, and it is not contingent upon any conditions or limitations.

Fee simple absolute is inheritable, meaning that upon the owner's death, the property can be passed on to heirs without any restrictions. This clarity and permanence make fee simple absolute the most comprehensive form of property ownership, distinct from other forms like life estates, which can limit ownership to the duration of a person's life; leasehold estates, which involve rights to use the property over a specified term but do not grant ownership; and tenancy at will, which provides only temporary occupation with the potential for termination by either party at any time.

Understanding fee simple absolute is essential in real estate, as it establishes the foundation for ownership rights and responsibilities.