A fee simple subject to an executory interest is a fee simple interest that, if a certain condition is met, transfers to a third party other than the grantor.Īlthough there can only be one fee simple at any point in time, a fee simple owner can split their fee simple into different parts.A fee simple subject to a condition subsequent is a fee simple interest that, if a certain condition is met, allows the grantor the right to repossess that fee simple.A fee simple determinable is a fee simple interest that automatically reverts back to the grantor if a certain condition is met.In addition to a fee simple absolute, there exists three other categories of fee simple a fee simple determinable, a fee simple subject to a condition subsequent, and a fee simple subject to an executory interest. In its pure form, a fee simple absolute, the owner retains both title and possession to the land regardless of any future events or circumstances.Traditionally, transferring a fee simple required a deed with the words “to X and their heirs.” In the modern day, there is a presumption that a fee simple is transferred unless the text of a grant specifically indicates a lesser interest is transferred instead. A fee simple is the greatest possible property interest in land, granting its owner all traditional property rights. Because a fee simple interest stretches out in time forever, there can only be one fee simple at a time for any given chunk of land.
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