Explore the legal terms and concepts related to Present Possessory Estates. Click on any term below to learn more about its definition and applications.
In assessing a present possessory estate, what is ameliorative waste?
Ameliorative waste is an improvement made to a life estate property that benefits the property econo...
What are the present possessory estates?
Present possessory estates include: (1) fee simple absolutes, (2) various defeasible fees, (3) fee t...
How is a fee simple subject to condition subsequent created?
A fee simple subject to condition subsequent is created by words of condition, such as "upon conditi...
In assessing a present possessory estate, what is permissive waste?
Permissive waste occurs when a life tenant breaches their duty or obligations to maintain a property...
What is a defeasible fee?
A defeasible fee is a fee simple estate that can be terminated when a stated event occurs.
