What does fee simple determinable mean in real estate?

a determinable fee simple estate is one that automatically terminates upon the occurrence of a specified event or the cessation of use for a specified purpose and will revert to the grantor without any entry or other act… …

Can real estate be owned as a fee simple defeasible?

Ownership of a fee simple defeasible estate is conditional, and the condition must be clearly stipulated by the grantor in the conveyance document. Fee simple defeasible conditions can be structured two ways: Either the ownership is contingent upon an event happening or ownership ends when an event happens.

What is a defeasible fee in real estate?

A fee simple defeasible is a special condition found in some deeds. This term applies to any condition where ownership of the property is dependent on the occurrence or non-occurrence of a certain event. If the new owner tries to develop a mall, the title automatically reverts to the original owner.

Can you sell fee simple determinable?

Note that a fee simple determinable can be transferred. In other words, in the above example, Barney can sell the land to whomever he wants. However, whoever buys the land still owns it subject to the condition that existed when Barney owned the land.

Is a fee simple estate inheritable?

Examples include the fee simple estate or the defeasible fee estate, which continue for an indefinite period and are inheritable by the owner’s beneficiaries.

What are the two types of fee simple defeasible?

Are There Different Types of Fee Simple Defeasible?

• Fee Simple Determinable. A fee simple determinable automatically ends the interest in the property when a condition is violated or not met.
• Fee Simple Subject To Condition Subsequent.
• Fee Simple Subject To Executory Limitation.

Do you own the property in fee simple?

Fee simple is a term that refers to real estate or land ownership. The owner of the property has full and irrevocable ownership of the land and any buildings on that land. He is free to do whatever he wishes on the land subject to local zoning ordinances. Fee simple is the highest form of property ownership.

What rights does an owner in fee simple have?

When you have fee simple ownership, you have the right to do whatever you want to your land and the properties on it. You can also pass down this property to whomever you’d like. Fee simple is the most common form of real estate ownership in the United States. It’s also the highest form of ownership.

What is defeasible fee simple?

Fee simple defeasible is a legal term and type of property ownership, where the ownership is dependent on specific conditions. If the conditions of ownership are violated, the property may be returned to the grantor or to a specified third party.

What is simple fee ownership?

With fee simple, you take full and complete ownership of a piece of land and any buildings that sit on it. Fee simple is the most common form of real estate ownership in the United States. It’s also the highest form of ownership. This doesn’t mean that owners can’t lose their properties and land.

What is fee simple defeasible in real estate?

Fee simple condition subsequent This form of fee simple defeasible estate is similar to fee simple determinable, except the grantor gets to choose whether ownership of the property will revert to them once the condition is violated. Their having a choice is where this differs from fee simple determinable. Fee simple condition precedent

When do fee simple determinable estates take place?

Established by durational language, fee simple determinable estates are followed by the future estates of a possibility of reverter. For example: To A for as long as the property is used for a museum.

Can a previous owner enforce a fee simple defeasible?

The Powerful Ownership of Fee Simple Defeasible. The township or state cannot enforce the violation, only the previous owner or his/her descendants can do so. A real life example of an issue relating to the violation of a deed was Evans v. Abney, 396 U.S. 435 (1970), argued 12–13 Nov. 1969, decided 29 Jan. 1970 by vote of 6 to 2.

When is a defeasible fee estate qualified by a special limitation?

A defeasible fee estate may also be qualified by a “special limitation”. Here we have a situation where the rights of the new owner are automatically terminated and ownership reverts to the previous owner if a certain limitation is violated.