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:
“As a general rule never take your whole fee in advance, nor any more than a small retainer. When fully paid beforehand, you are more than a common mortal if you can feel the same interest in the case, as if something was still in prospect for you, as well as for your client.”
—Abraham Lincoln (1809–1865)
“The Cairo conference ... is about a complicated web of education and employment, consumption and poverty, development and health care. It is also about whether governments will follow where women have so clearly led them, toward safe, simple and reliable choices in family planning. While Cairo crackles with conflict, in the homes of the world the orthodoxies have been duly heard, and roundly ignored.”
—Anna Quindlen (b. 1952)
“The mode of founding a college is, commonly, to get up a subscription of dollars and cents, and then, following blindly the principles of a division of labor to its extreme,—a principle which should never be followed but with circumspection,—to call in a contractor who makes this a subject of speculation,... and for these oversights successive generations have to pay.”
—Henry David Thoreau (1817–1862)
“Whether the aim is in heaven or on earth, wisdom or wealth, the essential condition of its pursuit and attainment is always security and order.”
—Johan Huizinga (1872–1945)
“And he smiled a kind of sickly smile, and curled up on the floor, And the subsequent proceedings interested him no more.”
—Francis Bret Harte (1836–1902)