fee simple subject to executory interest
Definition of fee simple subject to executory interest
fee simple subject to executory interest (plural fee simples subject to executory interest)
- (law) A defeasible fee created with clear durational language expressing a condition (e.g. "so long as", "until", "while") which causes ownership of a property to revest in a third party identified by the grantor if that condition comes about.
* Example: Joe gives Mike an estate in land "so long as no alcohol is brought onto the property, in which case the property will go to Harry"; this creates a fee simple subject to executory limitation- if alcohol is brought onto the property, Harry may choose to take ownership.
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