In South Dakota, a fee simple defeasible estate differs from fee simple absolute because it:
Correct Answer
B) Can be terminated if a specified condition is violated
A fee simple defeasible (also called a conditional fee) can be terminated if a specific condition is violated. For example, land granted 'as long as it is used for agricultural purposes' would revert to the grantor if the condition is broken.
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Related Topics & Key Terms
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Related Concepts
Riparian rights concern properties bordering flowing bodies of water (rivers, streams), while littoral rights concern properties bordering non-flowing bodies of water (lakes, oceans).
The bundle of rights describes the rights associated with property ownership, allowing owners to use, control, enjoy, exclude others from, and dispose of the property.
Community property is a form of ownership recognized in certain states where property acquired during marriage is considered equally owned by both spouses, regardless of who earned the money or whose name is on the title.
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