What characterizes a defeasible estate?

A defeasible estate is characterized by ownership that is contingent upon specific conditions that may cause ownership to revert back to the grantor or a third party if those conditions are not met. This means that while the property may be owned by one party, the ownership is not absolute and can be challenged or revoked if certain stipulations or requirements—defined in the deed or will—are violated.

This type of estate may come in forms such as a fee simple subject to a condition subsequent or a fee simple determinable, both of which set specific criteria for the continuation of ownership. If those conditions are breached, the original owner (or their heirs) can claim back the property, thus creating an inherent uncertainty in the security of the ownership.

The other options do not accurately reflect the nature of a defeasible estate. Complete ownership with no restrictions signifies a fee simple absolute, which is not contingent upon conditions. Ownership that is permanent without conditions describes a different type of estate that provides stability and security, rather than the potential for reversion. Lastly, temporary ownership due to life circumstances refers to life estates, which are distinctly different as they typically expire upon the death of the life tenant rather than reverting due to conditions related to behavior or use of the property.