1.    Types of Defeasible Fee Simple Estate
a.    Fee Simple Determinable is a fee simple that may defease (end) in the future upon the happening of some event in the future and the fee simple interest may revert to the grantor or his designee.
i.    Magic Words:
1.    “so long as”
2.    “while used for”
3.    “until”
ii.    Will end automatically when a stated event occurs
iii.    Accompanying future interest called possibility of reverter
1.    Possibility of reverter is transferable inter vivos
2.    Remember that the possibility of reverter must give the grantor the possibility of reverter, a possibility may not be created in a third party
3.    After the grant, the grantor may transfer his interest
4.    Designee in the definition doesn’t mean that the grant can name a third party, it means that the grantor may transfer his possibility of reverter subsequent to the grant
iv.    No action required by the holder of the future interest when the stated event occurs
v.    A limited grant because no action required for title to transfer if stated event occurs
1.    The continuance of the grant is conditional upon a stated subsequent condition, i.e. limited grant
b.    Fee Simple Subject to Condition Subsequent is a fee simple that may be defeased in the event that the state condition occurs subsequent to the grant and the person holding the right of entry exercises his right and takes title and possession from the fee simple defeasible interest holder.
i.    Magic Words
1.    “but if”
ii.    Fee Simple that does not automatically terminate but may be cut short or divested at the transferor’s election when a state condition happens
iii.    Accompanying future interest called a right of entry
1.    Future interest created in a third party called an executory interest
iv.    Right of Entry holder must act to get title and right of possession
1.    Can go and get possession physically
2.    Can go to court to get possession
v.    Full Grant because of the action required by the transferor to exercise his right
1.    Fee simple created by the grant continues until grantor acts
vi.    Courts choose this in cases of ambiguity