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fee simple determinable |
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fee simple determinable An interest in real property that will automatically terminate upon the happening of a certain described event. Example: “I grant Blackacre to First Methodist Church ‘for so long as it is used as' (or ‘but only if the property is used for') a church.” When the property ceases being used for the purpose granted, then title automatically reverts back to the grantor or the grantor's heirs. It is said that the grantor retains a possibility of reverter. Contrast with fee simple defeasible. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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