A fief was the central element of feudalism and consisted of heritable property or rights granted by an overlord to a vassal who held it in fealty (or "in fee") in return for a form of feudal allegiance and service, usually given by the personal ceremonies of homage and fealty. The fees were often lands or revenue-producing real property held in feudal land tenure: these are typically known as fiefs or fiefdoms. However, not only land but anything of value could be held in fee, including governmental office, rights of exploitation such as hunting or fishing, monopolies in trade, and tax farms.