Fee simple: Freehold estate in land, the most extensive tenure allowed under the feudal system. A person who owns a fee simple estate may sell it, convey it by will or it may be transferred to an heir if the owner dies without leaving a will. For a fee simple estate to be conveyed in a will, the proper words of limitation must be used: either “To X in fee simple” or “To X and his heirs”.

Fee tail: Form of tenure that can only be transferred to a lineal descendant. In feudal times, if there were no lineal descendants, the land reverted to the lord on the death of the tenant.

Fiduciary: Person (such as a trustee, company director or executor) who exercises rights and powers for the benefit of another person, but without being under the control of that person. A fiduciary must not allow any conflict of interest to affect his duties and would not normally be allowed to profit from his position.

Fieri facias: (Latin: cause to be made) A writ of fieri facias commands a sheriff to take and auction off property to pay a debt (plus interest and costs) owed by a judgment debtor.

Foreclosure: Forfeiture of a right of redemption on a property (generally when someone fails to pay a mortgage). Even if there has been no payment, the borrower normally retains a equitable right of redemption if he can raise the money to exercise the right. To clear the title of this potential right, a lender can apply to court for a date to be set, by which the entire amount becomes payable. If payment is not made, the property belongs entirely to the lender, who is then free to go into possession or to sell it.

Fraud: Dishonest conduct designed to persuade another person to give something of value by lying, repeating something that is or ought to have been known by the fraudulent party to be false or suspect, or by concealing a relevant fact from the other party. Fraud allows a court to void a contract or to set aside a judgment, and can result in criminal liability. A person who defrauds creditors of a company may be held personally liable.

Freehold: Right to the full use of real property for ever (as opposed to leaseholds or tenancies, which allow possession for a limited time). Varieties of freehold include fee simple, fee tail and life estate.

Freeholder: Person who owns freehold property rights.