Consider the following grant: "This transfer or deed is made with the full understanding that should the property fail to be used for the Church of God, it is to be null and void and property to revert to W. E. Collins or heirs." Discuss the interests created

?There is a fee simple defeasible. Whether there is a determinable or one subject to a condition subsequent depends upon the interpretation of the language. The language seems to connote time, not conditional grant so that it would be appear to be a determinable. However, the law tends not to favor determinable, but conditions subsequent because some action is required to gain title. W.E. Collins and his heirs hold a future interest that is either a possibility of reverter or a right of re-entry, depending upon the interpretation of the type of present interest.

Business

You might also like to view...

Indemnification

A) means that the insurance proceeds will return you to your pre-loss financial status. B) permits the insurance company to sue you for negligence. C) means that your insurance company has first claim on any court-awarded damages. D) applies only on life insurance covering the entire family.

Business

Many franchises have discovered that small outlets in high-traffic, nontraditional locations generate nearly the same sales volume as full-size outlets at a fraction of the cost

Indicate whether the statement is true or false

Business