A fee simple defeasible that is subject to divestment in favor of someone other than the grantor if a specified event happens (e.g., “to Albert and his heirs, but if the property is ever used as a parking lot, then to Bob”). — Also termed fee simple subject to an executory interest. [Cases: Estates in […]
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A restriction that causes an estate to automatically end and revest in a third party upon the happening of a specified event. • This type of limitation, which was not recognized at common law, can be created only as a shifting use or an executory devise. It is a condition subsequent in favor of someone
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An interest in land, created by will, that takes effect in the future and depends on a future contingency; a limitation, by will, of a future estate or interest in land when the limitation cannot, consistently with legal rules, take effect as a remainder. • An executory devise, which is a type of conditional limitation,
conditional limitation 附条件期限；限制条件 指在某项地产权的转让中，对受让人的权益或受益期限所附加的条件，即当某一可能的事件发生时，受让人的权益即告终止。如受让人享有的权益以保持独身不结婚为条件；又如在土地租赁关系中，如所附条件发生，出租人可在原租约到期前，提前终止租赁关系。也指当条件发生时原权益终止，由地产权中的期待利益〔executory interest〕替代，该期待利益归属第三人。如地产赠与契中规定，该地产赠给某人终身保有，某人去世后，由其亲生卑亲属继承。
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An estate that may come to an end before its maximum duration has run because of the operation of a special limitation, a condition subsequent, or an executory limitation. • If an estate is defeasible by operation of a special limitation, it is called a determinable estate.
possibility. 1. An event that may or may not happen. 2. A contingent interest in real or personal property. bare possibility. See naked possibility. naked possibility. A mere chance or expectation that a person will acquire future property. • A conveyance of a naked possibility is usu. void for lack of subject matter, as in