Fee Simple，以往称Freehold，为英美法术语，表示“地产的永久和绝对所有权，非限嗣继承地产所有权；永久地产、永久产权、完全地产权”。

Fee Simple: an absolute interest in land over which the holder has complete freedom of disposition during his life.

英美法的地产权分两类：

一、Fee simple absolute in possession，通称freehold（自主持有）

二、Term of years absolute，通称leasehold（租赁持有）。

Leasehold: the right to use a building or a piece of land according to the arrangements in a lease （按租约使用房屋或土地的）租赁权

Freehold: the fact of owning a building or piece of land for a period of time that is not limited （房地产）自由保有，完全保有，终身保有

Freehold estate 自主持有地产权

Leasehold estate 租赁持有地产权

参考双语例句：

In the absence (of a will)… lands held in fee simple… shall, upon the death of the owner, be inherited by the owner’s oldest legitimate living male child of sound mind, natural or adopted, or if male heirs are lacking, the oldest legitimate female child…” (25 PNC §301).

在没有遗嘱的情况下……拥有绝对继承权的土地……在其主人去世 之后，应由主人年长的合法在世儿子，不论是自然生还是领养的儿子 继承，如果男性继承人缺乏，则年长的合法女儿继承

He said that according to Article 7 of the Basic Law, the land within HKSAR was State property and the HKSAR Government was responsible for its management, development and use, etc. He pointed out that the Chinese version of item (b) in the meaning of "private land" of section 2 connoted the inclusion of land occupied by bodies other than the Government, such as St. John's Cathedral which was freehold land.

表示，根据《基本法》第七条，香港特区境内的土地属于国家所有，由香港特区政府负责管理、开发及使用等。他指出，第2条所订"私人土地"(b)项涵义的中文本意味着由政府以外的团体佔用的土地(例如属永久业权土地的圣约翰座堂)亦包括在内。

At 31 December 2007, certain of the Group’s investment properties, freehold properties, leasehold land, leasehold buildings, properties under development and bank deposits with carrying value of HK$2,680.6 million, HK$62.4 million, HK$5,754.2 million, HK$8.6 million, HK$1,175.5 million and HK$21.0 million respectively were pledged to secure credit facilities for the Group.

于二零零七年十二月三十一日，本集团账面值分别为2,680,600,000港元、62,400,000元、5,754,200,000港元、8,600,000港元、1,175,500,000港元及21,000,000港元之投资物业、永久业权物业、租赁土地、租赁楼宇、发展中物业及银行存款，已予抵押作为就本集团所需信贷融资之担保。

Turnover of the Group represents revenue from the sale of properties, rental income, income from construction, infrastructure business, hotel operation and management, department store operation and management, and others mainly including income from the provision of finance, investment holding, project management, property management, agency services, cleaning and security guard services, as well as the trading of building materials and disposal of leasehold land.

本集团营业额包括销售物业收入、租赁收入、建筑工程收入、基建项目收入、酒店经营及管理、百货公司经营及Fee Simple，以往称Freehold，为英美法术语，表示“地产的永久和绝对所有权，非限嗣继承地产所有权；永久地产、永久产权、完全地产权”。

Fee Simple: an absolute interest in land over which the holder has complete freedom of disposition during his life.

英美法的地产权分两类：

一、Fee simple absolute in possession，通称freehold（自主持有）

二、Term of years absolute，通称leasehold（租赁持有）。

Leasehold: the right to use a building or a piece of land according to the arrangements in a lease （按租约使用房屋或土地的）租赁权

Freehold: the fact of owning a building or piece of land for a period of time that is not limited （房地产）自由保有，完全保有，终身保有

Freehold estate 自主持有地产权

Leasehold estate 租赁持有地产权

参考双语例句：

In the absence (of a will)… lands held in fee simple… shall, upon the death of the owner, be inherited by the owner’s oldest legitimate living male child of sound mind, natural or adopted, or if male heirs are lacking, the oldest legitimate female child…” (25 PNC §301).

在没有遗嘱的情况下……拥有绝对继承权的土地……在其主人去世 之后，应由主人年长的合法在世儿子，不论是自然生还是领养的儿子 继承，如果男性继承人缺乏，则年长的合法女儿继承

He said that according to Article 7 of the Basic Law, the land within HKSAR was State property and the HKSAR Government was responsible for its management, development and use, etc. He pointed out that the Chinese version of item (b) in the meaning of "private land" of section 2 connoted the inclusion of land occupied by bodies other than the Government, such as St. John's Cathedral which was freehold land.

表示，根据《基本法》第七条，香港特区境内的土地属于国家所有，由香港特区政府负责管理、开发及使用等。他指出，第2条所订"私人土地"(b)项涵义的中文本意味着由政府以外的团体佔用的土地(例如属永久业权土地的圣约翰座堂)亦包括在内。

At 31 December 2007, certain of the Group’s investment properties, freehold properties, leasehold land, leasehold buildings, properties under development and bank deposits with carrying value of HK$2,680.6 million, HK$62.4 million, HK$5,754.2 million, HK$8.6 million, HK$1,175.5 million and HK$21.0 million respectively were pledged to secure credit facilities for the Group.

于二零零七年十二月三十一日，本集团账面值分别为2,680,600,000港元、62,400,000元、5,754,200,000港元、8,600,000港元、1,175,500,000港元及21,000,000港元之投资物业、永久业权物业、租赁土地、租赁楼宇、发展中物业及银行存款，已予抵押作为就本集团所需信贷融资之担保。

Turnover of the Group represents revenue from the sale of properties, rental income, income from construction, infrastructure business, hotel operation and management, department store operation and management, and others mainly including income from the provision of finance, investment holding, project management, property management, agency services, cleaning and security guard services, as well as the trading of building materials and disposal of leasehold land.

本集团营业额包括销售物业收入、租赁收入、建筑工程收入、基建项目收入、酒店经营及管理、百货公司经营及管理和其他收入（主要包括提供财务借贷、投资控股、项目管理、物业管理、代理人服务、清洁和保安服务收入，以及建筑材料贸易及出售租赁土地）。

Capital expenditure comprises additions to leasehold land and land use rights, investment properties, properties under development, and other properties, plant and equipment, including additions resulting from acquisitions through business combinations.

资本支出包括添置租赁土地及土地使用权、投资物业、发展中物业以及其他物业、厂房及设备，包括透过业务合併来自收购之添置。和其他收入（主要包括提供财务借贷、投资控股、项目管理、物业管理、代理人服务、清洁和保安服务收入，以及建筑材料贸易及出售租赁土地）。

Capital expenditure comprises additions to leasehold land and land use rights, investment properties, properties under development, and other properties, plant and equipment, including additions resulting from acquisitions through business combinations.

资本支出包括添置租赁土地及土地使用权、投资物业、发展中物业以及其他物业、厂房及设备，包括透过业务合併来自收购之添置。