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TeachMeFinance.com - explain fee simple estate fee simple estate -- a type of real property ownership in which the owner is fully accountable for all responsibilities pertaining to the property and entitled to all the rights and privileges derived from ownership including the right to pass the property on to one's heirs. About the author Mark McCracken Author: Mark McCracken is a corporate trainer and author living in Higashi Osaka, Japan. He is the author of thousands of online articles as well as the Business English textbook, "25 Business Skills in English". Copyright © 2005 by Mark McCracken, All Rights Reserved. TeachMeFinance.com is an informational website, and should not be used as a substitute for professional financial or legal advice. TeachMeFinance.com and its owner recommend consultation with a professional financial advisor prior to any investment or financial decision. Please read our disclaimer.