Fee Simple Defeasible

A real estate term referring to one of the two types of inheritable or fee simple freehold estates. Sometimes called determinable fee, conditional fee or qualified fee, fee simple defeasible estates are subject to conditions of when the estate will begin or end. Depending on whether the fee simple defeasible is subject to condition precedent or subject to condition subsequent, this estate terminates when approved conditions end or when prohibited uses arise. When a fee simple defeasible ends, the title passes by one of three possibilities: a reversion interest to the original grantor; a reversion interest to the grantor's heir; or a remainder interest to a specified third part. For more information, see the "Real Estate Introduction" and "Title and Estates in Real Property" articles in the "Real Estate In-Depth" section.

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Real Estate Planning And Prosperity

Real Estate Planning And Prosperity

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