Short Video: Real Property Ownership: The Estate System and Future InterestsĪn interest in property that allows its holder and his or her heirs to own and possess the property in perpetuity.Ī fee simple interest that can be terminated by the occurrence or non-occurrence of an event or condition.Ī fee simple interest in property that is terminated automatically upon the occurrence or non-occurrence of an event or condition.įee Simple Subject to a Condition Subsequent:Ī fee simple interest that can be terminated at the will of a future interest holder upon the occurrence or non-occurrence of an event or condition.Īn interest in land that is inheritable by and transferable to only lineal descendants of the original grantee.
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