Fee Simple Defeasible
Is a company: no
Is a proper noun: no
- defeasible estate
Definition of Fee Simple Defeasible
- A condition in which someone has outright ownership of real estate, free of any liens or other claims against title, but whose use of the property has restrictions
Related Terms and Acronyms
- Tax Lien — Definition,
- A claim, or obstacle, to the sale of property because of unpaid taxes. The property's title can't be transferred until liens are paid.
- Title — Definition,
- Evidence of a person's right to possession ownership of a property.
- Clear Title — Definition,
- Title not burdened by liens or legal questions.
- Fee Simple — Definition,
- Outright ownership of real estate, free of any liens or other claims against title.
- Title Search — Definition,
- A check of public records to make sure that the owner of real property has the right to transfer ownership. A title search is designed to spot gaps in the chain of title, liens, problems with the legal description of the property, judgements against the owner, and the like.
- Title Report — Definition,
- A report that reveals any competing claims, liens, or other problems relating to a property. A title report is required before title insurance will be issued. Also known as a "Preliminary Title Report" or "Prelim."
- Cloud on Title — Definition,
- A claim on title to property that could impair the ability to transfer ownership.