What defines a fee simple with conditions?

A fee simple with conditions is defined as a type of ownership where the property is owned outright, but there are specific conditions attached to that ownership. If these conditions are violated or not met, the ownership can be terminated. This means that while the owner has rights akin to full ownership, those rights come with stipulations that could lead to a loss of ownership if the outlined conditions are breached. This arrangement often comes into play in estate planning or when the property is gifted with specific use requirements.

The other options describe different types of property ownership or arrangements that do not include conditional stipulations associated with a fee simple. For instance, complete ownership without restrictions indicates a standard fee simple estate that does not have any limiting conditions. A temporary lease agreement represents a rental situation with limited rights, distinct from ownership, while ownership lasting only for the owner’s lifetime describes a life estate rather than a fee simple inheritance. Thus, the key characteristic of a fee simple with conditions is its potential to terminate based on the fulfillment or failure of specified conditions.