A fee defeasible estate is one that _______ upon the occurrence or non-occurrence of a specified condition.
Correct Answer
B) Terminates and reverts to the grantor or a third party
A fee defeasible (also called fee simple defeasible) estate terminates automatically or may be terminated upon the occurrence or breach of a specified condition, with ownership reverting to the grantor or passing to a designated third party. It differs from a fee simple absolute, which has no such conditions attached.
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Related Topics & Key Terms
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Related Concepts
A freehold estate represents ownership of real property with an indefinite duration.
Joint tenancy is a form of co-ownership in which two or more persons hold equal, undivided interests in property with the right of survivorship. When one joint tenant dies, their interest automatically passes to the surviving joint tenants.
A leasehold estate grants the right to possess and use property for a defined period of time, without conferring ownership.
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