Property I

Fee simple absolute means that no limitations at all. Fee simple is the only type of estate capable of being absolute, as all other types have inherent limitations.

A defeasible estate is one that is capable of being ended by the occurrence of a particular event.

Three kinds of limitations can accomplish this:

1. Determinable

   A determinable estate may end early automatically upon the happening of the limiting event.

   It relies on a duration without a condition happening. Words of duration are like: "until", "during", "as long as", or "while". The words of limitation will usually be in the original conveyance.

   It gives the grantee a possessory estate in fee simple determinable.

   If the future interest is retained by the grantor, it gives him a possibility of reverter.

   If the future interest is given to another grantee, it gives that person an executory interest.

2. Subject to an Executory Limitation

   An estate subject to an executory limitation can be interrupted by the next estate.

   It relies on a condition happening. Words of condition are like: "but if", "provided that", "on condition that", or "however". The words of limitation will usually be separated from the original conveyance by punctuation, instead attached to the following future interest.

   It gives an executory interest as a future interest in the second grantee.

3. Subject to a Condition Subsequent

   An estate subject to a condition subsequent requires the grantor to take some action to reclaim the property.

   It relies on a condition happening. Words of condition are like: "but if", "provided that", "on condition that", or "however". The words of limitation will usually be separated from the original conveyance by punctuation, instead attached to the following future interest.

   It gives a right of entry as a future interest.