- fee simple subject to executory limitation
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Alternate name for a fee simple subject to executory interest.
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fee simple subject to executory limitation
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fee simple subject to executory interest — noun A defeasible fee created with clear durational language expressing a condition (e.g. so long as , until , while ) which causes ownership of a property to revest in a third party identified by the grantor if that condition comes about. Syn:… … Wiktionary
fee simple subject to condition subsequent — noun A defeasible fee created with language reserving the right of the grantor to reclaim ownership of the land upon the occurrence of a specified condition (e.g. if X event occurs, grantor reserves the right to reenter and retake ); upon… … Wiktionary
fee simple determinable — noun A defeasible fee created with clear durational language expressing a condition (e.g. so long as , until , while ) which causes ownership of a property to revert to the grantor upon the occurrence of that condition. See Also: fee simple… … Wiktionary
executory limitation — n: a limitation that creates an executory interest a fee simple subject to an executory limitation see also executory interest at interest Merriam Webster’s Dictionary of Law. Merriam Webster … Law dictionary
executory interest — noun An third party interest in an estate in land created by the conditions of a grant wherein the grantor gives the land to a second party, but with said land going to a third party upon the occurrence of a condition; an interest created subject … Wiktionary
fee simple — The largest estate in land known to the law and implying absolute dominion over the land; an estate of inheritance clear of any condition, limitation, or restriction, to particular heirs. 28 Am J2d Est § 10. An estate of lawful inheritance or… … Ballentine's law dictionary
shifting executory interest — noun A third party interest in an estate in land created by the conditions of a grant wherein the grantor gives the land to a second party, but with the occurrence of a condition divesting the second party of the land in favor of the third party … Wiktionary
springing executory interest — noun An interest in an estate in land created by the conditions of a grant wherein the grantor cuts short the grantors own interest in the property in favor of the grantee, contingent upon the occurrence of a specific condition. Example: Joe… … Wiktionary
defeasible fee — noun An estate in land that may be divested from its current owner upon the occurrence of an event set forth by the grantor in the grant. See Also: fee simple determinable, fee simple subject to condition subsequent, fee simple subject to… … Wiktionary
Defeasible estate — Property law Part of t … Wikipedia
