Which of the following is true about the ownership associated with Fee Simple?

Fee Simple is a type of freehold estate that represents the highest form of ownership in real property. The essence of Fee Simple ownership is that it allows the owner complete control over the property, including the ability to use, sell, or develop it without needing permission from outside authorities, thus permitting free transfer of land ownership.

This form of ownership does not come with ongoing obligations to a higher authority, which means the owner is not required to make payments or adhere to regulations imposed by a superior interest, such as a landlord or government entity. Instead, the owner holds the property in its entirety and has the power to determine how it is treated.

Furthermore, while Fee Simple ownership does have to adhere to existing laws and regulations (such as zoning or environmental restrictions), it is not inherently encumbered by stringent limits that would usually characterize less comprehensive forms of property ownership, such as life estates or leasehold interests. Finally, Fee Simple ownership includes not just the surface area but also the subsurface and air rights, thus providing a comprehensive ownership that encompasses the entire property.

The ability to transfer ownership freely reinforces the value and liquidity of the property, making Fee Simple one of the most desirable forms of property ownership in land law.