Property Ownership
A fee simple defeasible estate differs from a fee simple absolute estate in that a fee simple defeasible:
ACannot be sold or transferred
BMay be terminated upon the occurrence or non-occurrence of a specified condition✓ Correct
CLasts only for the lifetime of the owner
DIncludes no right to mortgage the property
Explanation
A fee simple defeasible is a fee simple estate that may be terminated if a specified condition is violated or not met. The grantor retains a future interest. A fee simple absolute has no such conditions or restrictions.
Related Oklahoma Property Ownership Questions
- An encroachment occurs when:
- A life estate in Oklahoma terminates upon:
- The dominant estate in an easement relationship is:
- In Oklahoma, a property owner can create a private easement by:
- In Oklahoma, oil and gas leases on surface-owned property are granted by:
- Two unmarried individuals own a property together with equal shares and the right of survivorship. This form of ownership is called:
- In Oklahoma, the concept of 'separate property' in marriage refers to:
- In Oklahoma, title to real property is conveyed (transferred) from seller to buyer by delivery and acceptance of a:
Practice More Oklahoma Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Oklahoma Quiz →