Fee Simple Subject To An Executory Limitation
A fee simple subject to an executory limitation is an estate that ends when a specific condition is met and then transfers to a third party. The interest will not revert to the grantor. If the condition is met, the grantee loses the interest and the third party gains it automatically.
Example:
O grants Blackacre to A and A's heir; but if A ever accepts a candy bar from C, then to B and B's heirs.
Here, O is the original owner. She grants A a fee simple subject to the subsequent condition that he doesn't accept a candy bar from C. But unlike a fee simple subject to a condition subsequent, Blackacre goes to a third party (B) instead of the grantor (O) if the condition is met. Also unlike a fee simple subject to a condition subsequent, B then automatically gains the interest in Blackacre and does not only have a mere right to sue for re-entry.
What would happen if the property were conveyed? Let's say A sold Blackacre to D. If A afterwards accepted an offer for a candy bar from C, Blackacre automatically goes to B. But if A died without ever accepting a candy bar from C, the condition could not possibly be met. D would then have a fee simple absolute.
Read more about this topic: Defeasible Estate
Famous quotes containing the words fee, simple, subject and/or limitation:
“..for a prostitute’s fee is only a loaf of bread, but the wife of another stalks a man’s very life.”
—Bible: Hebrew, Proverbs 6:26.
“‘Tis the gift to be simple ‘tis the gift to be free
‘Tis the gift to come down where you ought to be
And when we find ourselves in the place just right
‘Twill be in the valley of love and delight.”
—Unknown. ‘Tis the Gift to Be Simple.
AH. American Hymns Old and New, Vols. I–II. Vol. I, with music; Vol. II, notes on the hymns and biographies of the authors and composers. Albert Christ-Janer, Charles W. Hughes, and Carleton Sprague Smith, eds. (1980)
“The entire construct of the “medical model” of “mental illness”Mwhat is it but an analogy? Between physical medicine and psychiatry: the mind is said to be subject to disease in the same manner as the body. But whereas in physical medicine there are verifiable physiological proofs—in damaged or affected tissue, bacteria, inflammation, cellular irregularity—in mental illness alleged socially unacceptable behavior is taken as a symptom, even as proof, of pathology.”
—Kate Millett (b. 1934)
“The French are certainly misunderstood:Mbut whether the fault is theirs, in not sufficiently explaining themselves; or speaking with that exact limitation and precision which one would expect ... or whether the fault may not be altogether on our side ... I shall not decide.”
—Laurence Sterne (1713–1768)