What is a 'fee simple defeasible' estate in Delaware real property law?
Why A fee simple estate subject to a condition — if the condition is violated, ownership may revert to the grantor or pass to a third party Is Correct
Answer B: A fee simple estate subject to a condition — if the condition is violated, ownership may revert to the grantor or pass to a third party
Exam Tip: Property Ownership
Property ownership questions test the bundle of rights and different forms of ownership. Know the differences between joint tenancy, tenancy in common, and community property, including the right of survivorship.
Key Property Ownership Terms in This Question
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Key Terms to Know
The highest and most complete form of property ownership — absolute ownership with the right to use, sell, or pass the property to heirs.
Eminent DomainThe power of government to take private property for public use, with the requirement to pay the owner just compensation.
DeedA written legal instrument used to transfer ownership of real property from one party (grantor) to another (grantee).
Tenancy in CommonCo-ownership where two or more people hold undivided interests that need not be equal and pass to each owner's heirs — no right of survivorship.
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