Business / Real Estate / Fee Simple Determinable: A fee simple determinable is an estate in real property that exists so long as, while or during the period that a certain prescribed use continues. Such use is described in the grant of conveyance. For example, a conveyance to the University of Knowitall so long as the real estate is used for educational purposes would give the university title, provided the granted land is used as prescribed. If, at some future time, the university were to stop using the property for educational purposes, title would revert to the original grantor, if living, or to his or her heirs if the grantor is deceased. A fee simple determinable automatically ends when the purpose for which it has been prescribed terminates. Upon the grant of a fee simple determinable, there remains in the grantor a possibility of reverter.
Fee Noun Synonyms: pay, payment, emolument, compensation, recompense, honorarium, remuneration, rate, wage(s), stipend, salary
Fee Verb Synonyms: charge, price, cost, fare, bill, tariff, toll, damage(s)
Simple Adjective Synonyms: unsophisticated, naive, slow, slow-witted, stupid, thick, thickheaded, simple-minded, feeble-minded, oafish, bovine, dense, obtuse, dull, dull-witted, witless, halfwitted, brainless, backward, imbecilic or imbecile, cretinous, dumb, mo
Simple Verb Synonyms: uncomplicated, plain, uninvolved, unsophisticated, understandable, intelligible, (easily) understood, comprehensible, clear, lucid, straightforward, easy, elementary, basic
Business / Real Estate / Defeasible Fee Estate: An estate in which the holder has a fee simple title that may be divested upon the occurrence or nonoccurrence of a specified event. There are two categories of defeasible fee estates: fee simple on c MORE
Business / Real Estate / Fee Simple Defeasible: An estate in land in which the holder has a fee simple title subject to being divested upon the happening of a specified condition, also called a qualified fee or a defeasible fee. There are two categ MORE