Which is regarded as the highest form of estate?

The fee simple is recognized as the highest form of estate because it represents the most complete ownership interest in real property. This type of estate gives the owner unrestricted rights to use, sell, lease, or develop the property as they see fit, as long as they comply with applicable laws and regulations. It is not limited by any conditions or restrictions, meaning that the owner has the right to possess the property indefinitely and can pass it on to heirs without limitation.

In contrast, other types of estates, such as the defeasible fee and fee conditional, are subject to certain conditions or limitations that can lead to a loss of ownership under specific circumstances. An estate in remainder is a future interest that does not confer current ownership but will take effect after another estate ends, further showing that it does not provide the same level of control and durability as a fee simple estate. Therefore, fee simple is the most valuable and significant form of property ownership, embodying total rights and control.