What happens if a party holds life estate and the fee simple estate simultaneously?

When a party holds both a life estate and a fee simple estate at the same time, these two forms of ownership can indeed coexist, each providing different rights and interests in the property. The life estate grants the holder the right to use and occupy the property for the duration of their life, while the fee simple estate represents the most complete form of ownership available in real estate, giving the holder full rights to the property, including the right to sell or transfer it.

The coexistence means that the person with the fee simple estate retains ultimate ownership of the property, but the life tenant has the right to enjoy and control the property during their lifetime. This arrangement establishes a hierarchy of ownership where the fee simple interest maintains its rights until the condition of the life estate ends—in this case, at the death of the life tenant.

Thus, in scenarios where both estates are held together, the life estate does not eliminate or negate the rights associated with the fee simple estate; they simply function within their respective parameters, allowing both to provide distinct rights under the legal structure of property ownership.