What is a fee simple subject to condition subsequent?

What is a fee simple subject to condition subsequent?

Fee Simple Subject to Condition Subsequent: The estate is similar to a fee simple, but has a condition attached. Established by conditional language, these estates are followed by a right of entry. If the triggering event occurs, the holder must take steps to establish possession of the land.

What is an example of a fee simple determinable?

A fee simple determinable automatically ends the interest in the property when a condition is violated or not met. An example of a fee simple determinable would be: A to B so long as the property is used as a school. B would have a fee simple interest in the property so long as the property is used as a school.

What is a fee simple conditional in law?

The term “fee simple conditional” refers to an estate that is restricted to certain specified heirs at the exclusion of others. For instance, “to John and his male heirs.”

Is a fee simple determinable alienable?

Fee Simple Determinable based on Willhite v. Upon the creation of a determinable fee simple estate the grantor retains an interest known as a “possibility of reverter” which is both alienable and devisable…

How does a fee simple determinable differ from fee simple on condition subsequent?

The major difference is that while a fee simple determinable automatically ends if the grantee (the person who received the land) does not fulfill the condition, the grantee’s interest in a fee simple subject to condition subsequent does not automatically end if the event or condition occurs.

What does determinable fee mean?

Determinable fee is an estate limited to a person and his heirs, with a qualification annexed by which it is provided that the estate must determine whenever that qualification is at an end.

What is the difference between fee simple determinable and condition subsequent?

Is a fee simple estate transferable?

Fee simple, also sometimes referred to as fee simple absolute, is an estate in land, at its core. To own a freehold estate means that the land you own is generally yours free and clear and can be transferred at will whenever you like.

Does fee simple include mineral rights?

Fee Simple ownership represents the absolute ownership of all aspects of a property for an indefinite period of time. The fee owner owns both the surface and the mineral rights below ground. As such, fee simple owners have the rights to grant mineral or oil and gas leases.

What is another name for a fee simple determinable estate?

Another name for fee simple estate. Fee simple defeasible (qualified fee) An estate that is subject to some condition to determine when it will begin or end. Also referred to as determinable, conditional or qualified fee. A defeasible fee creates an encumbrance on the title and runs with the land.

What does determinable mean in real estate?

Determinable generally refers to an interest in a property’s capability of terminating upon the occurrence of a specified event or condition.

Can you sell a 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.

What is a fee simple subject to condition subsequent estate?

Fee Simple Subject to Condition Subsequent: The estate is similar to a fee simple, but has a condition attached. A has a defeasible fee simple estate subject to a condition subsequent, and the grantor has a right of entry.

What is the difference between fee simple determinable and fee simple on condition?

The difference between the “fee simple determinable” and the “fee simple on condition subsequent” estate is: If the condition is violated in a fee simple determinable estate; the title automatically reverts to the original grantor or grantor’s heirs, or to the designated third person in remainder (remainder person).

When does a fee simple determinable estate end?

A fee simple determinable is an estate that will end automatically when the stated event or condition occurs. The interest will revert to the grantor or the heirs of the grantor. Normally, a possibility of reverter follows a fee simple determinable.

Which is more flexible fee simple upon condition subsequent?

The fee simple upon condition subsequent is a bit more flexible than the fee simple determinable. If the restriction defining the fee simple upon condition subsequent is violated, the interest of the holder of the fee simple upon condition subsequent may have its interest destroyed.