A 2x2 grid showing the 4 types of present estates in real estate" width="600" height="400" />A 2x2 grid showing the 4 types of present estates in real estate" width="600" height="400" />
U.S. law typically allows nearly limitless customization of the rights that can be transferred via contracts. However, real property ownership only comes in the form of a few different pre-defined types of bundles of rights (called estates). A present estate is an estate (i.e. interest in real property) representing ownership that is not dependent on anything else occurring to come into being. There are 4 types of present estates in U.S. real estate law: fee simple absolute, fee tail (no longer used), defeasible fee, and life estate. The details of each type of present estate are organized in the table below.
| Fee Simple Absolute | Fee Tail | Defeasible Fee | Life Estate |
| Subtypes | None | None | FSD (Fee Simple Determinable) – Fee Simple BUT automatically terminates if condition is met (and in that case, estate is automatically transferred back to the grantor) |
FSSCS (Fee Simple Subject to Conditions Subsequent)
– The same as an FSD except that if the condition is met, the grantor has the option whether or not to take back the land.
FSSCS:
“To A, but if _____ occurs, grantor reserves the right to re-enter”
FSSCS:
– Devisable, descendible, and alienable (but always subject to the condition and the grantor deciding to take back the land if the condition is met)
FSSCS:
– Grantor has a “right of entry”
FSSCS:
Joe conveys land to his son in law Sam, but if Sam ever uses drugs on the land, Joe reserves the right to take back the land.
Connected concept: “waste”.
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