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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OK by me in America!
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For a small fee in America!”
—Stephen Sondheim (b. 1930)
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I am not up to small deceit, or any sinful games;
And I’ll tell in simple language what I know about the row
That broke up our society upon the Stanislow.
But first I would remark, that it is not a proper plan
For any scientific man to whale his fellow-man,”
—Bret Harte (1836–1902)
“The issue is privacy. Why is the decision by a woman to sleep with a man she has just met in a bar a private one, and the decision to sleep with the same man for $100 subject to criminal penalties?”
—Anna Quindlen (b. 1952)
“If the condition of things which we were made for is not yet, what were any reality which we can substitute? We will not be shipwrecked on a vain reality.”
—Henry David Thoreau (1817–1862)
“Reading ... is an activity subsequent to writing: more resigned, more civil, more intellectual.”
—Jorge Luis Borges (1899–1986)