ownership, property, grantee, grantor, fee simple, common law
The transfer of ownership in real property is usually characterised by an outright grant of the fee simple which operates to vest an absolute interest in the grantee. Sometimes, however, land is conveyed in circumstances where the grantor purports to reserve a right to recover the property if a stipulated event occurs or if the grantee does, or abstains from doing, a particular thing. Depending upon the form of the instrument, this may give rise to a determinable fee simple or a fee simple upon condition subsequent.
Peter Devonshire, "Possibilities of Reverter and Rights of Re-entry for Condition Broken: The Modern Context for Determinable and Conditional Interests in Land" (1990) 13:2 Dal LJ 650.