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  2. Defeasible estate - Wikipedia

    en.wikipedia.org/wiki/Defeasible_estate

    Three types of defeasible estates are the fee simple determinable, the fee simple subject to an executory limitation or interest, and the fee simple subject to a condition subsequent. A life estate may also be defeasible. Because a defeasible estate always grants less than a full fee simple, a defeasible estate will always create one or more ...

  3. Fee simple - Wikipedia

    en.wikipedia.org/wiki/Fee_simple

    A defeasible estate is created when a grantor places a condition on a fee simple estate (in the deed). When a specified event happens, the estate may become void or subject to annulment. There are two types of defeasible estates: fee simple determinable and the fee simple subject to a condition subsequent.

  4. Future interest - Wikipedia

    en.wikipedia.org/wiki/Future_interest

    In property law and real estate, a future interest is a legal right to property ownership that does not include the right to present possession or enjoyment of the property. Future interests are created on the formation of a defeasible estate; that is, an estate with a condition or event triggering transfer of possessory ownership. A common ...

  5. Rule in Shelley's Case - Wikipedia

    en.wikipedia.org/wiki/Rule_in_Shelley's_Case

    The Rule in Shelley's Case is a rule of law that may apply to certain future interests in real property and trusts created in common law jurisdictions. [1]: 181 It was applied as early as 1366 in The Provost of Beverly's Case [1]: 182 [2] but in its present form is derived from Shelley's Case (1581), [3] in which counsel stated the rule as follows:

  6. Estate (law) - Wikipedia

    en.wikipedia.org/wiki/Estate_(law)

    Fee simple estates may be either fee simple absolute or defeasible (i.e. subject to future conditions) like fee simple determinable and fee simple subject to condition subsequent; this is the complex system of future interests (q.v.) which allows concepts of trusts and estates to elide into actuarial science through the use of life contingencies.

  7. Reversion (law) - Wikipedia

    en.wikipedia.org/wiki/Reversion_(law)

    A reversion in property law is a future interest that is retained by the grantor after the conveyance of an estate of a lesser quantum than he has (such as the owner of a fee simple granting a life estate or a leasehold estate).

  8. Remainder (law) - Wikipedia

    en.wikipedia.org/wiki/Remainder_(law)

    In property law of the United Kingdom and the United States and other common law countries, a remainder is a future interest given to a person (who is referred to as the transferee or remainderman) that is capable of becoming possessory upon the natural end of a prior estate created by the same instrument. [1]

  9. Mortgage law - Wikipedia

    en.wikipedia.org/wiki/Mortgage_law

    This is known as a shifting fee and was sufficient after 1199 to entitle the gagee to bring an action for recovery. However, the royal courts increasingly did not respect shifting fees since there was no livery of seisin (i.e., no formal conveyance), nor did they recognize that tenure could be enlarged, [ 6 ] so by the 14th century the simple ...