The items shown on the statement will reflect the purchase price, the funds deposited or credited to your account, payoffs on existing encumbrances and/or liens, the costs for all services and a determination of the funds you are entitled to at the close of the escrow.
In English law, a fee simple or fee simple absolute is an estate in land, a form of freehold ownership. It is a way that real estate may be owned in common law countries, and is the highest possible ownership interest that can be held in real property.
The three freehold estates are (1) the fee simple (which may be absolute or defeasible), (2) the fee tail, and (3) the life estate. Fee Simple Absolute. a.) Fee Simple Absolute - The fee simple absolute is inheritable and there are no conditions under which the estate will terminate.