3. A(n) estate represents the most complete form of ownership of real estate; the owner is free to divide it up into lesser estates and sell, lease, or borrow against them as he or she wishes. A. Fee simple B. Freehold C. Leasehold D. Life 4. What term BEST describes a person that owns a property and is conveying title to the property to another person? (A) Mortgagor (B) Grantor (C) Mortgagee (D) Grantee 5. A loan to an individual to purchase a home would be considered to be a: a. consumer loan. b. commercial loan. c. agricultural loan. d. construction loan. e. real estate loan