Fee Simple Subject To Condition Subsequent
A fee simple subject to a condition subsequent is created when the words of a grant support the conclusion that the grantor intends to convey a fee simple absolute but has attached a condition to the grant so that if a specified future event happens the grantor will get its fee simple absolute back, provided that the grantor exercises his right of entry(or power of termination). Thus, a fee simple subject to condition subsequent does not end automatically upon the happening of the condition. The future interest is called a "right of reentry" or "right of entry," and the property only reverts back to the original grantor if he exercises this right.
The right of entry is not automatic, but rather must be exercised to terminate the fee simple subject to condition subsequent. To exercise right of entry, the holder must take substantial steps to recover possession and title, for example, by filing a lawsuit. Physical entry is not required, but the holder must do more than just proclaim an intent to take back.
One of the languages used to create a fee simple subject to condition subsequent and a right of entry is "to A, but if A sells alcohol on the land, then grantor has the right of entry(or power of termination)."
Common uses include language such as "may", "but if", "however", or "provided that..."
Read more about this topic: Defeasible Estate
Famous quotes containing the words fee, simple, subject, condition and/or subsequent:
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—Abraham Lincoln (1809–1865)
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—Ralph Waldo Emerson (1803–1882)
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—Jorge Luis Borges (1899–1986)