An estate is possessory interest in land which is or may become possessory. Estates are measured in duration by some period of time.

A Fee Simple Absolute is the largest estate permitted by law. The holder has full possessory rights now and in the future. The estate is unlimited as to duration, disposition, and descendability.

The Right of Re-Entry is a future interest retained by the grantor giving him the right to terminate the grantee's estate upon the happening of a specified event.

Voluntary Waste is a type of waste which occurs from an intentional act.

A Vested Remainder Subject to Complete Divestment is a vested remainder where the interest is in an existing ascertained person and subject to a condition subsequent.

Present Estates are interests which give a present right to possession.

Defeasible Fees are present interests which are of a potentially infinite duration which can be terminated by the happening of a specified event (condition).

A Fee Simple Subject to an Executory Limitation is a defeasible fee that terminates upon the happening of a specified event and vests title in a third party.

Permissive Waste is the type of waste which occurs when the property is allowed to fall into disrepair or the failure to take reasonable measures to protect the land from the elements.

A Vested Remainder Subject to Partial Divestment is a vested remainder where one or more remainder men are in existence and ascertained, but the amount of their estates is subject to diminution due to the possibility of an increase to the number of people who are to take the property.

Words of Purchase are words in an instrument which indicate the grantees or persons who are to take the estate.

A Fee Simple Determinable is a type of defeasible fee which automatically terminates on the happening of a stated event and goes back to the grantor (possibility of reverter).

A Fee Tail is a present possessory interest which limits inheritance to lineal descendants of the grantee. If there are no lineal descendants the property reverts back to the grantor.

A Reversion is the future interest left in the grantor after conveying a lesser estate than what he has. It will become possessory after the natural termination of the preceding estate.

A Condition Subsequent is a condition which occurs after the estate has vested which, upon its happening, the remainder men becomes possessory.

Words of Limitation are the words in an instrument which indicate the type of estate the grantee takes.

Possibility of Reverter is the future interest left in the grantor upon conveying an estate conditioned upon the non-occurrence of a stated event or act. Upon the happening of the condition the estate will automatically revert back to the grantor.

A Life Estate is an estate who's duration is measured either by the life of the grantee (life estate) or the life of someone else (per autre vie)

Vested Interests are those interests which the owner and the event upon which it will become possessory are certain, but the time of actual possession is unknown.

A Condition Precedent is an expressed condition other than the termination of the preceding estate which must occur before the remainder becomes possessory.

Future Estates are interests in land which may or will entitle the owner to possession of an estate in the future.

A Fee Simple Subject to a Condition Subsequent is a defeasible fee which is created when the grantor retains the power to terminate the estate of the grantee upon the happening of a specified event.

The Doctrine of Waste imposes a duty on a present possessor to not do anything which would injure the interests of the person(s) holding the future interest.

Remainders are the remnants of an estate in land which is a future interest created in someone other than the grantor which can become a present possessory estate on the natural expiration of prior estates, which were expressly by the same conveyance.

A Contingent Remainder is a remainder which is created in favor of an unborn or unascertained person or otherwise subject to a condition precedent.