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.
Fee simple ownership is unqualified; that is, there are no restrictions on what the owner can do with or on the property, other than the constraints of law or regulation, such as easements, zoning ordinances or fire regulations. This quality of absolute ownership is the key to the other characteristics of a fee simple. Because the property ownerâs right to the property is absolute, the property owner can sell the property to any person or organization without restriction. Other forms of ownership, such as a life estate, do not.