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The Collaborative International Dictionary
Base fee

Base \Base\ (b[=a]s), a. [OE. bass, F. bas, low, fr. LL. bassus thick, fat, short, humble; cf. L. Bassus, a proper name, and W. bas shallow. Cf. Bass a part in music.]

  1. Of little, or less than the usual, height; of low growth; as, base shrubs. [Archaic]
    --Shak.

  2. Low in place or position. [Obs.]
    --Shak.

  3. Of humble birth; or low degree; lowly; mean. [Archaic] ``A peasant and base swain.''
    --Bacon.

  4. Illegitimate by birth; bastard. [Archaic]

    Why bastard? wherefore base?
    --Shak.

  5. Of little comparative value, as metal inferior to gold and silver, the precious metals.

  6. Alloyed with inferior metal; debased; as, base coin; base bullion.

  7. Morally low. Hence: Low-minded; unworthy; without dignity of sentiment; ignoble; mean; illiberal; menial; as, a base fellow; base motives; base occupations. ``A cruel act of a base and a cowardish mind.''
    --Robynson (More's Utopia). ``Base ingratitude.''
    --Milton.

  8. Not classical or correct. ``Base Latin.''
    --Fuller.

  9. Deep or grave in sound; as, the base tone of a violin. [In this sense, commonly written bass.]

  10. (Law) Not held by honorable service; as, a base estate, one held by services not honorable; held by villenage. Such a tenure is called base, or low, and the tenant, a base tenant.

    Base fee, formerly, an estate held at the will of the lord; now, a qualified fee. See note under Fee, n., 4.

    Base metal. See under Metal.

    Syn: Dishonorable; worthless; ignoble; low-minded; infamous; sordid; degraded.

    Usage: Base, Vile, Mean. These words, as expressing moral qualities, are here arranged in the order of their strength, the strongest being placed first. Base marks a high degree of moral turpitude; vile and mean denote, in different degrees, the lack of what is valuable or worthy of esteem. What is base excites our abhorrence; what is vile provokes our disgust or indignation; what is mean awakens contempt. Base is opposed to high-minded; vile, to noble; mean, to liberal or generous. Ingratitude is base; sycophancy is vile; undue compliances are mean.

Wikipedia
Base fee

A base fee is an interest in real property that has the potential to last forever, provided a specified contingent event does not take place. For example, a grantee might be given an interest in a piece of land, "as long as the land is not used for any illegal purposes."