Fee Simple Defeasible Real Estate Definition
Fee Simple Defeasible Real Estate Definition. Fee simple estate is a term used to describe ownership or freehold of an estate and the type of ownership of an estate. Fee simple defeasible (qualified fee) an estate that is subject to some condition to determine when it will begin or end.
Definition of fee simple estate. Fee simple estate is a term used to describe ownership or freehold of an estate and the type of ownership of an estate. A determinable fee simple estate is one that terminates automatically upon the occurrence of a specified event, or the cessation of use for a specified purpose and reverts to the grantor without the need for any entry or other act.
Defeasible Estate Can Be Classified Into Three:
An interest in real property that may be defeated upon the happening of a certain described event.in other words,someone must take an action in order for the estate to come to an end. An owner of a fee simple absolute estate has unconditional ownership and control of the rights and interests in real property within the allowances of the law. Fee simple subject to a condition.
A Determinable Fee Simple Estate Is One That Terminates Automatically Upon The Occurrence Of A Specified Event, Or The Cessation Of Use For A Specified Purpose And Reverts To The Grantor Without The Need For Any Entry Or Other Act.
Fee simple estate is a term used to describe ownership or freehold of an estate and the type of ownership of an estate. A defeasible estate is created when a grantor transfers a land on the happening of an event or a condition stated by the grantor. Definition of fee simple defeasible.
Defeasible Estate Law And Legal Definition.
Fee simple defeasible is a legal term and type of property ownership, where the ownership is dependent on specific conditions. A fee simple defeasible may be granted as long as the property is held as a wildlife refuge (termed “fee simple determinable”). The possessory interest, also referred to as fee (a word derived from “fief”, a feudal landholding), is inherited, vested, or presented to the holder.
1031 Exchange (1031 Tax Deferred Exchange) Allodial System.
This term applies to any condition where ownership of the property is dependent on the occurrence or. 1031 exchange (1031 tax deferred exchange) allodial system attorney in fact blind ad condemnation defeasance clause doctrine of laches dual agency easement equitable title estoppel executed contract fee simple defeasible fiduciary deed friable implied contract metes and bounds net listing operating statement option. Thousands of students use our handy guide and sample tests to prepare for and pass the real estate salesperson & broker exams.
Fee Simple Is A Form Of Ownership That The Law Views As Unrestricted, Absolute Ownership Of A Property By The Owner (S) Listed On The Deed.
This is different from leasehold ownership in that the property belongs to the owner. The property may still be subject to government regulations like property taxes, and the owner can place voluntary encumbrances on the. Definition of fee simple estate.
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