Property Ownership
In New York, a 'fee simple determinable' is a form of freehold ownership where:
AThe owner has unlimited, absolute ownership
BOwnership continues as long as a specified condition is met; if the condition fails, ownership automatically reverts to the grantor✓ Correct
CThe owner's rights are subject to a life estate
DThe property is owned by two people simultaneously
Explanation
A fee simple determinable is an ownership interest that continues only as long as a specified condition is met. It is created with words like 'so long as' or 'while used for X purpose.' If the condition fails, the property automatically reverts to the grantor (or their heirs) by way of a 'possibility of reverter' — no legal action is needed.
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