Fee simple, fee simple defeasible and life estate
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The fee simple, fee simple defeasible and life estate are the fundamental means western societies use to title real property. What are the advantages and disadvantages of each? As a seller of real property, which deeds would you prefer to use and why? How would your choice of deeds affect the value of the property and why?
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The fee simple, fee simple defeasible and life estate are the fundamental means western societies use to title real property. What are the advantages and disadvantages of each? As a seller of real property, which deeds would you prefer to use and why? How would your choice of deeds affect the value of the property and why?
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A fee simple or fee simple absolute is full ownership of property without any conditions, giving the owner the right to transfer the property without any conditions. The benefit of this type of ownership is that it gives the owner full rights of transfer. There is really no disadvantage to this type of ownership other than it does not give the owner prior to the new owner any rights to take the property back into ownership.
A fee simple defeasible is ownership of the property that is based on some type of condition. A fee simple determinable is one reverts automatically back to the last owner of the property if the new owner does or does not do something specific agreed to when the sale of the property took place. For example, if the seller sells the property to the new owner so ...
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