Editing Fee simple (section)

==Rent==
The claim that no [[renting|rent]] or similar obligations are due from the owner of property in fee simple is only partially true. For example, a [[rentcharge]] may exist requiring a freeholder to pay a fixed sum of money closely resembling rent, and many jurisdictions have created financial obligations that may be imposed on a freehold estate. England and Wales impose an [[estate charge]]. In the [[United States]], fee simple owners are usually subject to [[property tax]] and the revenue generated is directed to the municipality's general fund. Other local tax assessments called "special purpose taxes" may be assessed in addition to the property taxes for specific purposes such as infrastructure improvements. Real estate owned as a [[Condominium (living space)|condominium]] is usually similarly owned in fee simple, but typically subject to rules in the declaration of condominium or created by the condominium association, such as paying required monthly fees for maintaining the property's common areas; however, these are generally treated legally as [[covenant (law)|covenants running with the land]] (contracts binding on the possessors of real property) imposing an affirmative duty to pay money rather than as rent for property held in fee simple.