Defeasible refers to the ability of something to be cancelled or avoided. For instance, a defeasible deed is a legal document that can be invalidated or made void. Defeasibility denotes the characteristic of being capable of being cancelled or avoided.
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The term “defeasible” refers to something that can be nullified or avoided. Examples of defeasible items include a defeasible deed, defeasible estate, defeasible fee simple, defeasible interest, defeasible remainder, and defeasible title. These examples demonstrate that something that is defeasible can be undone or invalidated. For instance, a defeasible deed is a legal document that can be cancelled or invalidated under specific conditions. Similarly, a defeasible estate or fee simple can be revoked if certain conditions are not met. In general, the term defeasible suggests that something is not permanent or absolute, but rather subject to change or cancellation.
A defeasible estate is a type of property ownership that can be terminated or modified based on a specific condition or event.
The main types of defeasible estates are fee simple determinable, fee simple subject to condition subsequent, and fee simple subject to executory limitation.
A defeasible estate is conditional and can be terminated or modified, while a fee simple absolute estate is unconditional and cannot be terminated or modified.
A fee simple determinable automatically terminates if a specific condition is violated, while a fee simple subject to condition subsequent gives the grantor the option to terminate the estate if a condition is violated.
If the condition of a defeasible estate is violated, the estate may revert back to the grantor or their heirs, or it may be subject to a legal action to enforce the condition.
Yes, a defeasible estate can be sold or transferred to another party, but the new owner will be subject to the same conditions and limitations as the original owner.
A defeasible estate can be created through a deed or will that specifically states the conditions or limitations of the estate.
A defeasible estate can be modified or terminated based on the specific conditions or limitations outlined in the original deed or will.
Examples of defeasible estates include property ownership with restrictions on land use, such as a requirement to maintain the property for a specific purpose, or a grant of property that reverts back to the grantor if certain conditions are not met.
Defeasible estates may have tax implications, especially if the conditions or limitations affect the value or use of the property. It is important to consult with a tax professional or legal advisor to understand the potential tax consequences of a defeasible estate.
This site contains general legal information but does not constitute professional legal advice for your particular situation. Persuing this glossary does not create an attorney-client or legal adviser relationship. If you have specific questions, please consult a qualified attorney licensed in your jurisdiction.
This glossary post was last updated: 17th April 2024.
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