Credit gives the word to pay either by repaying it or returning those resources later. In other words, this credit is the method of making the reciprocity formal, legally enforceable, and of course, extensible to a vast group of people who are not related.
However, the resources provided may be financial or have goods or services, like consumer credit. The credit covers any form of deferred payment. Credit generally gets extended by the creditor, the debtor or lender, and sometimes the borrower.
Fee simple Defeasible is a specific ownership type for property. The ownership in this case will be dependent on several terms and conditions. In case of violations, then the property may come back to the grantor or the specified third party. There are several kinds of options in this scenario. Fee simple determinable is about termination of the property interest whenever any conditions are not fulfilled or see any violation. If the terms are violated or remain unmet, then the grantor will automatically take back this property without any future actions. Fee simple subject to condition subsequent does not ensure automatic property transfers back to the grantor if the conditions remain unmet or there are any violations. However, the grantor gets the choice for taking back the property in question. This is also called as the right of reentry. The other type is fee simple subject to executory limitations. This leads to the termination of the interest in any property whenever there are any terms and conditions that are violated or remain unmet. The property will be transferred automatically to a third party without any future action, and this will not be the grantor.
There are several types of fee simple defeasible agreements/contracts that are observed in the real estate sector. For instance, suppose that Mr. A gives the right to use a commercial building to Mr. B for the payment of a certain sum every month by a certain date. If Mr. B defaults on the same, then the property will be transferred back to Mr. A. This is only one type of example that may occur in this context.
