Fee simple determinable

The interest will revert to the grantor or the heirs of the grantor. Normally, a possibility of reverter follows a fee simple determinable. However, a possibility of reverter does not follow a fee simple determinable subject to an executory interest. A defeasible fee created with clear durational language expressing a condition (e.g. so long as, until, while) which causes ownership of a property to revert to the grantor upon the occurrence of that condition. Once a condition is not met or is broken, the property ownership reverts back to them automatically.

The holder of a fee simple defeasible possesses the property as a fee simple subject to that condition.

What is fee simple mean? If the condition is violated or not met, then the property will either go back to the original grantor or a specified third party. Other fee simple estates in real property include fee simple defeasible (or fee simple determinable) estates.

A defeasible estate is created when a grantor places a condition on a fee simple estate (in the deed ). When a specified event happens, the estate may become void or subject to annulment. A fee simple estate qualified by a special limitation. An interest in land that terminates upon the occurrence of a specified condition.

This is a redundant form of fee , but is used to show the fee (absolute title) is not a conditional fee , or determinable fee , or fee tail.

Fee simple ownership is the most common form of ownership in the U. Possession of land after breach of a condition subsequent or after termination of an estate of fee simple determinable shall be deemed adverse and hostile from the first breach of a condition subsequent or from the occurrence of the event terminating an estate of fee simple determinable. Let’s say O gives land to A: “I convey this land to you and your heirs so long as you use it for educational purposes. Our magic words here are “so long as”.

Explain the basic concept of future interests under American common law. List the key characteristics of modern future interests. Identify how early termination occurs for a fee simple. Every interest that would be at common law a possibility of reverter is deemed to be and is enforceable as a power of termination.

Meaning of fee simple determinable. Definition of fee simple determinable in the Definitions. Information and translations of fee simple determinable in the most comprehensive dictionary definitions resource on the web. On the other han a fee simple defeasible is a type of property ownership in which the assets can be taken away from the owner after the occurrence (or-non occurrence) of a special event. This is a fee simple interest in every respect, except that it passes to another if the contingency happens.

The recipient upon the contingency’s happening has an “executory interest. This limits fee simple ownership rights. D) fee simple determinable An estate at will terminates on the death of lessor or lessee.

Bob grants Mary an estate for as long as she lives, but her heirs cannot have the estate.

There is no reversion of ownership in determinable estate. Reversion of ownership is automatic in the determinable estate. This means that the estate is subject to the occurrence or non-occurrence of some events specified by the grantor.

Defeasible estate can be classified into three: 1. The grantor is conveying a fee simple only until an event happens. It uses words of duration, such as “so long as” “while used for”, and “until”. In English law, a fee simple or fee simple absolute is an estate in lan a form of freehold ownership. A fee is a veste inheritable, present possessory interest in land. A fee simple refers to a sub-category of such interests that features an absence of any temporal condition limiting its durational period under common law, whereas the highest possible form of ownership interest that can be held in real property is a fee simple absolute, which is a sub-set characterized by an.

Fee Simple Determinable fee simple determinable see fee simple. Merriam-Webster, Incorporated. Freehold estates made up of the fee simple absolute estate, the fee simple determinable estate, the fee simple subject to a condition subsequent estate, the fee tail estate, and the life estate. For example, when grantor transfers to grantee a parcel of land “ for so long as that land is used for summer camp purposes. Apossibility of reverter follows a fees simple determinable.

Durational language such as to A as long as the property is used for a park creates a fee simple determinable and a. If that condition is violate the property interest will end and revert back to the grantor immediately. It is fee simple determinable. Importantly, once that event occurs, the estate automatically reverts back to the grantor.