Property Ownership
A fee simple defeasible estate is BEST described as:
AA lease for a fixed period of years
BA fee simple estate that may be lost upon the occurrence or non-occurrence of a specified event✓ Correct
CAn estate that lasts for the life of the grantee only
DAn ownership interest shared equally among multiple parties
Explanation
A fee simple defeasible (also called fee simple determinable or fee simple subject to condition subsequent) is a fee simple estate that can be terminated if a specified condition occurs or fails to occur. For example, a grant 'to the school district so long as used for school purposes' is a fee simple determinable.
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