Fee simple qualified popular
An estate in fee simple qualified is a less-than-absolute interest in real property and is subject to certain conditions or contingencies, such as the occurrence (or non-occurrence, as the case may be) of certain specified events. There are two types of estates in qualified fee: qualified fee conditional (also known as subject to condition subsequent) and qualified fee determinable. Estates in qualified fee allow for recovery of fee simple ownership of the property by the grantor if the grantee either commits certain acts (qualified fee conditional), or fails to comply with a special limitation (qualified fee determinable).
Estates in fee simple qualified are of unlimited duration, but only if the conditions or special limitations specified by the grantor are not violated or are continually met. An estate in fee simple qualified differs from one in fee simple absolute in that it has a clearly defined potential endpoint, and the property interest is less than fee ownership.
Same as fee simple defeasible.
Terms, Definitions, and Concepts: Real Estate, Title and Title Insurance, Legal (Law), and Management
Added: Wed Jun 25 2008
Last Modified: Wed Jul 09 2008