Victoria has been paying a mortgage on her property for the past 30 years. When Victoria pays the last payment on her mortgage, her ownership interest in the property will be: Fee simple absolute.
This is a straight forward type of fee simple absolute. This is one that has to do with do with the right to own a property, do anything on it and even damage it.
This type of interest is the highest type of ownership of properties that is recognized by law in the United States of America.
The fee simple absolute requires that no amount is paid for rent. But there are cases where they have to pay property tax to the state government
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