Which of the following best defines a fee simple absolute estate?

A fee simple absolute estate is defined as a type of property ownership that grants the holder unlimited ownership rights without conditions or limitations, allowing them complete control over the property. This means the owner can utilize, sell, or modify the property as they see fit, and ownership can be passed on to heirs without any restrictions.

This type of estate is the most complete form of ownership recognized in real estate law, as it provides the holder with the maximum rights and privileges. For instance, the owner can lease the property or develop it, free from external encumbrances or the threat of reversion to a previous owner.

In contrast, the other options describe forms of ownership that involve temporary rights or limitations. For example, ownership for a specified duration implies a leasehold or a term of years, which doesn't offer the same rights as a fee simple absolute. Ownership limited by regulations suggests restrictions enforced by zoning laws or homeowner associations, which inherently diminishes full ownership rights. Temporary possession without ownership points toward a rental situation where the possessor has no rights to the property itself, just the use of it for a limited time. Therefore, these descriptions do not align with the characteristics of a fee simple absolute estate.