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Questions and Answers
What is a defeasible fee simple?
What is a defeasible fee simple?
What are the types of fee simple defeasible estates?
What are the types of fee simple defeasible estates?
What is a Fee Simple Determinable (FSD)?
What is a Fee Simple Determinable (FSD)?
A defeasible estate that automatically ends when a certain event or condition occurs.
What is the future interest following a Fee Simple Determinable called if it's transferred to another transferee?
What is the future interest following a Fee Simple Determinable called if it's transferred to another transferee?
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What is the right of entry/power of termination?
What is the right of entry/power of termination?
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What must happen for a Fee Simple Subject to a Condition Subsequent (FSSCS) to be terminated?
What must happen for a Fee Simple Subject to a Condition Subsequent (FSSCS) to be terminated?
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Study Notes
Defeasible Fee Simple Overview
- Defeasible fee simple: an estate that can end upon a specified future event.
- Commonly established for land gifts to public or charitable entities, contingent on specific use, reverting to the grantor if the use ceases.
Types of Fee Simple Defeasible Estates
- Fee Simple Determinable (FSD)
- Fee Simple Subject to a Condition Subsequent (FSSCS)
- Fee Simple Subject to an Executory Limitation (FSSEL)
Fee Simple Determinable (FSD)
- Automatically terminates when a specified condition occurs.
- Requires duration language such as "so long as" or "until."
- Title automatically reverts to the grantor upon the event's occurrence.
- Potentially infinite duration unless the limiting event occurs.
- Future interest known as "possibility of reverter," which can only be retained by the original transferor.
- Modernly, FSD can be transferred, devised, and descended.
Possibility of Reverter
- The right retained by the grantor when a FSD is created.
- Essential to include explicit language in the deed to create a FSD.
- FSD cannot be inferred; an explicit expression is necessary.
Example of Fee Simple Determinable
- A conveyed Greenacre with the stipulation for residential use only.
- If commercial use occurs, title automatically terminates and reverts to the grantor.
Future Interest Following a FSD
- Known as Executory Interest when transferred to another party.
Fee Simple Subject to Condition Subsequent (FSSCS)
- This estate does not automatically terminate upon the occurrence of a condition.
- The transferor must take action (right of entry) to reclaim the property after a breach.
- Requires conditional language like "but if" or "provided that."
- Title remains with the transferee until the transferor acts.
Duration of FSSCS
- Potentially infinite unless the conditional event occurs and the transferor exercises the right of entry.
- Future interest can only be retained by the transferor.
Right of Entry/Power of Termination
- Specific to FSSCS, allowing the transferor to reclaim possession.
- Traditionally involved physical re-entry; today, notice or quiet title action is commonly permitted for termination.
Fee Simple Subject to an Executory Limitation (FSSEL)
- A type of defeasible estate where the transferor designates future ownership to another party upon certain conditions being met.
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Description
Explore the concept of defeasible fee simple estates, which can terminate upon specific future events. This quiz covers different types, including Fee Simple Determinable and Fee Simple Subject to a Condition Subsequent, along with important terms like 'possibility of reverter'. Test your understanding of these land ownership concepts.
