LAW 515-001 – Property I
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:
A determinable estate may end early automatically upon the happening of the limiting event.
If the future interest is retained by the grantor, it gives him a possibility of reverter.
- subject to an Executory Limitation
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.