Which aspect is key to a fee estate?

A fee estate, specifically a fee simple estate, is characterized by an indefinite duration of ownership. This means that the owner has the right to hold the property forever, and their heirs can inherit the property without restrictions. When someone owns a fee simple estate, they enjoy the fullest rights to the property, including the ability to sell, lease, or will it to others.

In contrast, limited duration of ownership refers to a lease or a life estate, where ownership is temporary and often contingent upon a person's lifetime. Joint ownership with shared rights indicates a co-ownership situation, such as tenants in common or joint tenants, which does not specifically pertain to the concept of a fee estate. Ownership subject to conditions, while relevant in discussions of fee simple subject to conditions, still does not capture the essence of a fee estate as a whole, which is primarily defined by its indefinite nature.