Okay, the secret is out. I am currently studying for my bar exam. In the process, I must study real property law and other areas of law that pertain to real estate and may be helpful to a real estate or land investor. I figured since I was studying anyways, I might as well put each topic one video at a time. I also started a YouTube channel which can be seen here.
This is very simple to other defeasible fees except that the interest in land has duration language that upon the happening of a certain event the interest in the land or real estate is transferred to a third party. This means that a fee simple subject to an executory interest will automatically divest in favor of a third person that was not part of the original transfer. For example, if I convey to my brother "this land for so long as it is used as a farm, and if no longer used as a farm, than to the Red Cross"...this conveyance creates a fee simple subject to an executory interest because upon the happening of a stated event (my brother no longer farming the property) it goes automatically to the Red Cross. Let me explain further....
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