What is the type of estate characterized by being freely given to heirs without restrictions?

The correct answer is fee simple absolute. This type of estate is the highest form of property ownership in real estate. It grants the owner complete control over the property and the ability to pass it on to heirs without any restrictions on how the property may be used or transferred. This means that the owner can sell, lease, or bequeath the property as they see fit, making it an unrestricted and inheritable form of estate.

In contrast, a life estate is limited to the duration of an individual’s life, after which the property reverts to the original owner or another designated party. A leasehold estate grants a tenant the right to use the property for a specified term but does not provide ownership rights. Lastly, joint tenancy involves property ownership shared by two or more individuals with rights of survivorship, meaning that upon the death of one owner, their interest automatically passes to the surviving owners, which adds a level of restriction regarding how an interest can be inherited. Thus, fee simple absolute stands out as the only option that is transferable without any conditions attached.