Which of the following best describes a fee simple defeasible estate?
Correct Answer
B) An ownership interest that may terminate and revert if a specified condition is violated
A fee simple defeasible estate is a type of fee simple ownership that is subject to a condition. If the specified condition is violated or ceases to be met, the estate may automatically terminate (fee simple determinable) or be subject to the grantor's right to reclaim it (fee simple subject to condition subsequent), causing ownership to revert or be conveyed away.
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Related Topics & Key Terms
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Key Terms:
Related Concepts
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.
A life estate is a freehold estate that grants ownership rights for the duration of someone's life.
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