A farmer sold a portion of his farm to a railroad company with the condition “as long as it remains a rail line.” In the event of abandonment, the rail line property would revert back to the farmer or the farmer’s heirs. What type of estate is described in this scenario?
Correct Answer
B) Fee simple determinable
Fee simple determinable automatically terminates and reverts to the grantor when a specified condition occurs.
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Previous Question
A deed restriction prohibits a subdivision from using a residential property as a business. A buyer interested in purchasing a property in the subdivision tells their broker they intend to use one room of their house as a dog grooming service. Can the buyer do so?
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A flood hazard report will note that flooding is frequent when it is described as: