If Richard, who has a fee simple absolute estate, dies, what will happen to his property?

If Richard holds a fee simple absolute estate, it means he has the highest and most complete form of ownership in real property. Upon his death, the property will pass to his heirs according to the instructions laid out in his will, if one exists. This transfer is an inherent characteristic of fee simple absolute ownership: it allows the owner to plan for the distribution of their property upon death, either as determined by the state’s laws of intestacy (if there is no will) or as specified in a will. This flexibility ensures that the property can continue to be owned by his intended beneficiaries without interruption or the need for governmental intervention.

Other options presented do not apply to fee simple absolute estates. For instance, automatic transfer to a co-owner would only occur if the co-owner had a right of survivorship, which is different from fee simple ownership. Furthermore, the property cannot simply become ownerless and be sold at auction; it must have a designated heir or beneficiary. Lastly, reversion to a remainderman is a concept typically associated with life estates, not fee simple estates. Thus, the answer is indeed that his heirs will receive the property as described in his will.