Suppose John owns a large parcel of land and decides to convey it to a local community organization, Greenway Conservation Society, with a condition of freehold. These examples illustrate how fee simple defeasible estates can impose conditions or limitations on the use of property, allowing the grantor to maintain some level of control or involvement even after conveying ownership to the grantee. In this case, if the local government decides to repurpose the land for a different use, the grantor or their successors would need to take legal action to reclaim ownership of the property. However, the deed states that if the land is not used as a park, the grantor or their successors have the right to reclaim the property.
Suppose an individual conveys a piece of land to a local government with the condition that the land must be used exclusively for the construction of a public park. Example of fee simple subject to condition subsequent If the nonprofit organization stops operating the library or uses the land for any other purpose, the ownership interest would automatically terminate and return to the university.
The deed contains a condition stating that the ownership of the property will automatically revert back to the university if the land ceases to be used as a library. Let’s say a university grants a parcel of land to a nonprofit organization for the purpose of constructing and operating a public library. These conditions are specified in the deed and may result in the ownership right being extinguished or modified if they are triggered. Fee simple defeasibleĪs explained above, the extinguishable fee simple usufruct is a type of ownership that grants the owner (assignee) full ownership rights, but with certain conditions or limitations. The owner has the right to transmit the property to his heirs by inheritance. The ownership right is considered indefinite and has an unlimited duration. There are no conditions or limitations attached to the ownership, and the owner has the right to own, use, transfer and dispose of the property without any restrictions. In this type of ownership, the owner (transferee) has full and unrestricted ownership rights to the property. Fee simple absoluteĪ fee simple absolute, also known as fee simple estate or fee simple title, is the highest form of ownership. The main difference between an absolute property right and a defeasible property right lies in the conditions and limitations of the property rights.
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