What type of estate provides the greatest ownership interest?

A fee simple absolute represents the greatest ownership interest in real property. This estate grants the owner complete control and rights over the property, including the ability to use, sell, or bequeath it without any limitations or conditions. It is the most unrestricted form of property ownership, meaning the owner has the longest duration of ownership possible under the law, which lasts until the owner chooses to transfer the property or passes away.

In contrast, other types of estates restrict ownership in various ways. A leasehold estate is limited to a specific period as defined in a lease agreement, meaning the lessee does not hold full ownership of the property. A life estate allows for ownership of the property only for the duration of a person's life, effectively limiting the ownership rights significantly once that individual passes away. A fee simple defeasible is a form of ownership that comes with conditions; if certain conditions are not met, ownership can revert to a previous owner or another party. Hence, these alternatives do not provide the same level of rights and control as a fee simple absolute, making it the most comprehensive form of ownership interest.