Property Ownership
What is a 'fee simple defeasible' estate in Delaware real property law?
AA fee simple estate that can never be taken by eminent domain
BA fee simple estate subject to a condition — if the condition is violated, ownership may revert to the grantor or pass to a third party✓ Correct
CA fee simple estate held by a governmental entity
DA fee simple estate that includes mineral rights but not surface rights
Explanation
A fee simple defeasible is a fee simple estate subject to a condition or limitation. If the condition is violated, ownership can revert to the grantor (fee simple determinable) or be subject to the grantor's right to re-enter (fee simple subject to condition subsequent).
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Key Terms to Know
Fee Simple
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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