What type of estate is recognized as the highest form by law?

The highest form of estate recognized by law is known as a fee simple. This type of estate provides the owner with the maximum possible rights regarding the property, allowing them to use, lease, sell, or transfer the property as they see fit. The fee simple estate is characterized by its perpetual duration and is not limited by any conditions. This means that the property can be inherited by the owner's heirs, thus providing stable ownership that lasts indefinitely.

In contrast, a fee simple defeasible does have conditions attached that can limit the owner's rights and could potentially lead to a loss of the property if certain circumstances aren't met. A life estate grants ownership rights only for the duration of an individual's life, after which ownership typically reverts to another party. An easement in gross, on the other hand, does not convey any ownership rights to the land itself, only the right to use the land for a specific purpose, making it far less robust than a fee simple estate. This is why the fee simple is deemed the highest form of property ownership recognized by law.