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.
What does Fee Simple mean? Fee simple is often referred to as âan estate in fee simpleâ or âfreeholdâ. (Freehold not to be confused with having no mortgage). A fee simple title is considered to be the title that has the greatest benefit to the owner in respect of enjoyment and use.