Fee Simple Absolute:
Description: It is the complete ownership of the property and does not have a limited duration of ownership.
"to X and his heirs,"
"to X in fee simple absolute,"
"all my right, title and interest to X,"
"to X." (Most jurisdictions accept this by statue)
Description: You own the Estate as long as you live. Upon death it returns to the grantor called a reversion or future interest called a remainder.
Key Words: For Life
Description: Property that is passed down through one's pedigree Only a few states do this. (Mass.
Fee Simple Determinable:
Description: An estate with a conditional interest by the grantor. If the condition fails it automatically reverts back to the grantor
"to Company A, so long as used for research purposes, then to the grantor."
"to Company A while used for research purposes, then to revert to the grantor and her heirs."
"to Company A during such time as used as a Laboratory Building building, then to myself and my heirs."
"to Company A, until such time as it shall cease to be used for research purposes, then to the grantor in fee simple."
Fee Simple Subject to Condition Subsequent:
Description: This Estate has a conditional rule. Once the rule is violated the grantor my reclaim the property. But he has to use a civil action to repossess it
"to X upon the condition that if X should fail to keep his job for five years, then to the GR."
"to X and his heirs, but if X remarries, then the grantor may reenter and
"to X and his heirs, provided that when X remarries, the grantor may exercise
his power of termination."
Fee Simple Subject to Executory Limitation:
Description: A property which has an executory condition Upon the termination of the condition it is transferred to a executory interest
"to Microsoft so long as Bill Gates remains CEO, then to the City of Seattle."
"to Microsoft, but if Microsoft should sell Windows Vista on the premises, to Y and her heirs.