Defeasible fees & life estates (label the estate) — Fee simple absolute: full ownership, indefinite duration. Fee simple determinable ("so long as / while / until"): ends automatically; grantor keeps a possibility of reverter. FS subject to condition subsequent ("but if / provided that"): grantor holds a right of entry he must exercise. FS subject to executory interest: passes automatically to a third party. Life estate: the life tenant commits waste against the remainderman — voluntary (damage), permissive (failing to maintain, pay taxes, or pay mortgage interest to the extent of income), or ameliorative (substantial alteration). Absolute restraints on alienation of a fee are void.

Rule Sim