In English law, a fee simple or fee simple absolute is an estate in land, a form of freehold ownership. It is the way that real estate is owned in common law countries, and is the highest ownership interest possible that can be had in real property.
Absolute Estate Law & Legal Definition. An absolute estate is an estate that confers an absolute right to property and which is not subject to limitations, restrictions, or conditions.  A freehold estate is a right of title to land that is characterized by two essential elements: immobility, meaning that the property involved is either land or an interest that is attached to or has been derived from land, and indeterminate duration, which means there is no fixed duration of ownership. 4.-1. The quantity of interest which the tenant has in his tenement is measured by its duration and extent. An estate, considered in this point of view, is said to be an estate of freehold, and an estate less than freehold. The second, which is the proper and technical meaning of estate, is the degree, quantity, nature and extent of interest which one has in real property; as, an estate in fee, whether the same be a fee simple or fee tail; or an estate for life or for years, &c. 4.-1. The quantity of interest which the tenant has in his tenement is measured by its duration and extent. An estate, considered in this point of view, is said to be an estate of freehold, and an estate less than freehold. In English law, a fee simple or fee simple absolute is an estate in land, a form of freehold ownership. It is the way that real estate is owned in common law countries, and is the highest ownership interest possible that can be had in real property. The fee simple estate is also called estate in fee simple or fee-simple title, sometimes simply freehold in England and Wales. From the start of the Norman period, when feudalism was introduced to England, the tenant or holder of a fief could not alienate (sell) it from the possession of his overlord. Another issue a Seller has to consider before proceeding with an absolute auction is the customary costs of conveying property to a purchaser. In the case of real estate, it is possible that the bids may not exceed the taxes owed on the property and the costs of title insurance and other conveyance costs. Selling with reserve can also mean the sale of the property is subject to a reserved minimum price. Selling with reserve can also mean that the seller, or another party with an interest in the property, reserves the right to bid on his/her own behalf or on behalf of a lienholder during the auction sale. The degree, quantity, nature, and extent of interest that a person has in real and Personal Property. Such terms as estate in land, tenement, and hereditaments may also be used to describe an individual's interest in property. 4.-1. The quantity of interest which the tenant has in his tenement is measured by its duration and extent. An estate, considered in this point of view, is said to be an estate of freehold, and an estate less than freehold. There are many abbreviations used in real estate listings, as well as a lot of terminology that is used only in New York City. Following is a guideline of real estate terminology used to rent, purchase or sell a property, as well as some financial and architectural terminology as it pertains to real estate. Buyer's Broker A buyer's broker is a broker who represents the buyer in effectuating a purchase. Normally in residential real estate transactions, the buyer's broker shares the commission received by the listing broker, who represents the seller. This is why you will often see a reserve the right to bid provision in auction terms of sale, whether it is real estate or personal property. All auction sales are reserve auctions unless expressly promoted as absolute. Selling with reserve can also mean the sale of the property is subject to a reserved minimum price. Selling with reserve can also mean that the seller, or another party with an interest in the property, reserves the right to bid on his/her own behalf or on behalf of a lienholder during the auction sale. Absolute auction means the seller will sell to the highest and best bidder no matter what the final bid is. Although the term absolute auction appears in the Uniform Commercial Code and does not apply to real estate, that terminology has gradually been referred to in questions about real estate auctions. Selling with reserve can also mean the sale of the property is subject to a reserved minimum price. Selling with reserve can also mean that the seller, or another party with an interest in the property, reserves the right to bid on his/her own behalf or on behalf of a lienholder during the auction sale. Fee Simple. The greatest possible estate in land, wherein the owner has the right to use it, exclusively possess it, commit waste upon it, dispose of it by deed or will, and take its fruits. A fee simple represents absolute ownership of land, and therefore the owner may do whatever he or she chooses with the land. If an owner of a fee simple dies intestate, the land will descend to the heirs. The term fee used independently is an adequate designation of this type of estate in land. The term simple is added to distinguish clearly this estate from other interests in real property. 
http://definitions.uslegal.com/a/absolute-estate/ http://legal-dictionary.thefreedictionary.com/Estate http://legal-dictionary.thefreedictionary.com/Estate https://en.wikipedia.org/wiki/Fee_simple http://www.cottenauctions.com/answers.htm http://legal-dictionary.thefreedictionary.com/Estate http://worklife.columbia.edu/real-estate-terminology http://www.cottenauctions.com/answers.htm http://www.cottenauctions.com/answers.htm http://legal-dictionary.thefreedictionary.com/Fee+simple+absolute
what is absolute word in real estate