Final answer:
Unless it is a lesser estate, property ownership is typically considered as a 'fee simple' estate, which is the most complete form, with the owner having unlimited duration and freedom concerning the property, unlike lesser estates such as leaseholds.
Step-by-step explanation:
When discussing various types of property ownership, unless it is a lesser estate, the ownership is generally considered in terms of a 'fee simple' estate, which is the most complete form of ownership. A lesser estate can include rights or ownerships such as a leasehold where the right to use, inhabit, or otherwise enjoy someone's property is granted for a particular period without transferring full ownership of the property. The 'fee simple' estate, on the other hand, is characterized by unlimited duration and the freedom to sell or bequeath the property as the owner wishes. This type of ownership generally provides the owner with the highest degree of control over their property, subject to governmental regulations.
As indicated in the Sect ICGU Carcornia Civil Cool, private property entails the 'right to pass by permission, and subject to control, of owner,' which aligns with the principles of a fee simple estate but may dictate certain restrictions as per local laws and ordinances. Additionally, matters such as property tax, the ability to enter into contracts concerning the property, and negotiating the purchase of neighboring property are facets typically associated with fee simple ownership rather than lesser estates. Inheritances, tax responsibilities, and the potential for the property to figure in contractual agreements are key aspects of this kind of ownership.