Real Property

The largest possessory estate, of potentially infinite duration; created by 'to A' or 'to A and his heirs.' It is fully alienable, devisable, and descendible.

It is alienable (transferable inter vivos), devisable (passes by will), and descendible (passes by intestate succession).

A defeasible fee created by durational language ('so long as,' 'while,' 'until') that ends automatically when the stated event occurs, leaving a possibility of reverter in the grantor.

A defeasible fee using conditional language ('but if,' 'provided that,' 'on condition that') that does NOT end automatically; the grantor retains a right of entry (power of termination) that must be affirmatively exercised.

A defeasible fee that, upon the stated event, passes to a third party rather than the grantor; the third party holds an executory interest.