Which estate type allows for the least limitations on ownership?

Fee simple is the estate type that allows for the least limitations on ownership. This type of estate grants the owner full rights to the property, including the ability to sell, lease, or will the property to heirs without restrictions. The owner of a fee simple estate essentially has the maximum ownership interest possible under the law, which can be transferred or conveyed freely.

In contrast, a leasehold estate typically involves renting property for a defined period, and ownership is limited to the duration of the lease. A life estate conveys ownership for the duration of a person's life, after which the property reverts back to the original grantor or a designated third party, which adds limitations to the estate. A future estate refers to a legal right to own property at a future date, which also means there are limitations on current ownership and use. Therefore, when considering the extent of rights and freedoms associated with ownership, fee simple stands out as the most unrestricted form of property ownership.