Fee Simple Flashcards
Fee Simple Subject to Condition Subsequent
A fee simple subject to a condition subsequent is a type of property ownership where the owner’s rights can be terminated if they fail to meet specific conditions outlined in the deed. If these conditions are violated, the original grantor has the right to reclaim the property through legal action, known as the right of re-entry.
Key Elements:
Fee Simple Ownership: The highest form of property ownership, giving the owner complete rights to use, sell, or pass down the property.
Condition Subsequent: Specific rules or requirements that the owner must follow after taking ownership.
Right of Re-entry: The original owner’s right to take back the property if the conditions are violated.
Example:
Imagine a property deed that states the land must be used for agricultural purposes. If the new owner decides to build a shopping mall instead, the original grantor can take legal action to reclaim the property.
