Escrow & Title
A Nebraska property subject to a 'right of entry' for condition broken differs from a fee simple defeasible in that:
AThere is no difference — they are the same thing
BA right of entry requires the grantor to take affirmative action to reclaim the property; a fee simple defeasible reverts automatically upon breach of condition✓ Correct
CA right of entry is only available for commercial properties
DA fee simple defeasible requires court action to enforce
Explanation
A fee simple on condition subsequent creates a right of entry — the grantor must take affirmative steps to reclaim the property after the condition is breached. A fee simple determinable automatically reverts upon breach.
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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.
Comparable Sales (Comps)Recently sold properties similar in size, condition, and location used by appraisers and agents to estimate a property's market value.
DeedA written legal instrument used to transfer ownership of real property from one party (grantor) to another (grantee).
EasementA non-possessory right to use another person's land for a specific purpose.
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