What does determinable fee mean?
DETERMINABLE FEE. Also called a qualified or base fee, is one which has a quality subjoined to it, and which must be determined whenever the qualification annexed to it is at in end. A limitation to a man and his heirs on the part of his father, affords an example of this species of estate.
What is qualified fee simple?
A fee simple qualified estate is a fee simple estate that is subject to limitations by the grantor. Examples: A church sells land provided that the grantee does not sell liquor on the property. A husband leaves his property to his wife so long as she doesn’t remarry.
What is an example of a fee simple determinable estate?
Joe gives Mike an estate in land “so long as no alcohol is brought onto the property”; this creates a fee simple determinable – if alcohol is brought onto the property, ownership of the land automatically reverts to Joe.
What is a determinable 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.
What is another name for a fee simple determinable estate?
Fee simple determinable (subject to condition precedent) The estate remains in effect as long as a specified condition is satisfied. It is also called an as long as estate. The grantor ( or the grantor’s heirs) retain right of reversion interest should the condition no longer be met and the estate ends automatically.
What is the difference between a fee simple determinable estate?
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 follows a fee simple determinable?
Defeasible Fee Simple
Fee Simple Determinable: The estate will be automatically terminated if the stated condition occurs. Established by durational language, fee simple determinable estates are followed by the future estates of a possibility of reverter.
What is the difference between fee simple absolute and fee simple determinable?
The fee simple determinable has all the attributes of a fee simple absolute except for the fact that it is subject to being terminated automatically upon occurrence of the event on which it is limited.
What is the difference between the two types of defeasible estates?
Upon the occurrence of a specified event, the estate may be lost. Two types of defeasible estates are the fee simple determinable and the fee simple subject to a condition subsequent.
What are the three types of Defeasible fee simple estates?
Three types of defeasible estates are the fee simple determinable, the fee simple subject to an executory limitation or interest, and the fee simple subject to a condition subsequent.