Defeasible Fees Flashcards Preview

POSSESSORY INTEREST REAL PROPERTY > Defeasible Fees > Flashcards

Flashcards in Defeasible Fees Deck (4)
Loading flashcards...
1

What is a defeasible fee?

present possessory estates subject to conditions

2

What is a fee simple determinable and what are the common words?

Ends automatically upon the happening of a stated event and transfers possession back to the grantor or heirs. Has a possibility of reverter. Words indicating that the ownership is to last only for a certain time period. The conveyance either requires a certain condition to exist for the present estate to continue or requires the present estate to terminate upon the happening of a particular even.
a. COMMON WORDS: “as long as”, “so long as”, “during”, “while”, “unless”, “until”.

3

Fee Simple Subject to Condition Subsequent

Allows the grantor to reclaim the property upon occurrence of the condition but does not make a transfer of ownership automatic. Instead, the grantor must claim a right of entry or a power of termination.
a. COMMON WORDS: “but if”, “provided that”, “on condition that”.

4

Fee Simple Subject to Executory Limitation/Executory Interest.

Defeasible fee followed by a future interest held by another party not the grantor.
i. Shifting- shifting from one grantee to the other. O→A for life, then to B and his heirs if B marries S.
ii. Springing- springs from the grantee back to the grantor and then to another grantee. The gap must be avoidable. EX. O→A for life, and one day after A’s death, to Barry and his heirs.