For example, if a warranty deed conveys 123 ABC Street for as long as 123 ABC Street is used as a school, then the land would revert back to the grantor when 123 ABC Street is no longer used as a school. This would be a fee simple determinable estate.

What is another name for a fee simple determinable estate?

Another name for fee simple estate. Fee simple defeasible (qualified fee) An estate that is subject to some condition to determine when it will begin or end. Also referred to as determinable, conditional or qualified fee. A defeasible fee creates an encumbrance on the title and runs with the land.

Why are these estates referred to as defeasible?

When the rights of ownership in real estate are dependent on the occurrence or non-occurrence of a certain event, it is known as a defeasible fee estate. This limits fee simple ownership rights.

Why is it called fee simple?

Fee simple is a legal term used in real estate that means full and irrevocable ownership of land, and any buildings on that land. Fee simple is the highest form of ownership — it means the land is owned outright, without any limitations or restrictions other than local zoning ordinances.

What is the difference between a fee simple absolute estate and a defeasible fee simple estate?

An interest in property that allows its holder and his or her heirs to own and possess the property in perpetuity. Defeasible Fee: A fee simple interest that can be terminated by the occurrence or non-occurrence of an event or condition.

What is a defeasible fee?

What is fee simple defeasible? Fee simple defeasible is a legal term and type of property ownership, where the ownership is dependent on specific conditions. If the conditions of ownership are violated, the property may be returned to the grantor or to a specified third party.

What does the word defeasible mean?

Definition of defeasible

: capable of being annulled or made void a defeasible claim.

What is a defeasible easement?

Determinable Easement is an easement that will terminate upon the happening of a specific event or contingency.

Is fee simple defeasible inheritable?

Freehold Estates

Examples include the fee simple estate or the defeasible fee estate, which continue for an indefinite period and are inheritable by the owner’s beneficiaries.

What are the two types of fee simple defeasible?

There are two kinds of Fee Simple: Absolute or Defeasible.

Fee Simple Estates
Fee Simple Determinable: The estate will be automatically terminated if the stated condition occurs. Fee Simple Subject to Condition Subsequent: The estate is similar to a fee simple, but has a condition attached.

What are the three types of defeasible fee simple estates?

Three types of defeasible estates are the fee simple determinable, the fee simple subject to an executory limitation or interest, and the fee simple subject to a condition subsequent.

What does fee simple mean?

An interest in land. Land owned in fee simple is owned completely, without any limitations or conditions. This type of unlimited estate is called absolute. A fee simple is generally created when a deed gives the land with no conditions, usually using the words like “to John Doe” or “to John Doe and his heirs”.

What is fee simple vs leasehold?

Fee simple ownership requires no rent be paid, though property taxes still must be paid to the local and state government where applicable. A leasehold requires rent be paid to the true property owner, and depending on the terms of the lease, the lessee may also pay property taxes.

What is an example of a fee simple estate?

An example of a fee simple determinable estate is the following: To A for as long as the property is used for a car wash. A has a fee simple determinable and will hold the land for as long as it is used as a car wash.

What is the difference between the two types of Defeasible estates determinable and condition subsequent?

The major difference is that while a fee simple determinable automatically ends if the grantee (the person who received the land) does not fulfill the condition, the grantee’s interest in a fee simple subject to condition subsequent does not automatically end if the event or condition occurs.

What are the main characteristics of the fee simple estate?

Fee simple means that the land is completely owned and, therefore is capable of being inherited by the land owner’s heirs – whether under a will or the statutory rules of intestacy. A fee simple estate has no time limits as in the case of a leasehold estate, and can last indefinitely.

What’s the primary difference between an ordinary and a pur autre vie life estate?

If the life estate is based on the life tenant’s life, it is known as an ordinary life estate. Once the owner dies, the estate terminates. If the estate is based on a life other than the life tenant, it is known as a pur autre vie life estate, which means for another’s life.

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