Question

The grantor of a qualified fee has set the requirement that the property "must be used only as a school"; this requirement is known as a

a. qualified condition.
b. remainder interest.
c. reversionary interest.
d. deed condition.

Answer 1

Answer:

d. deed condition.

Explanation:

According to my research on real estate documentation and requirements, I can say that based on the information provided within the question this requirement is known as a Deed Condition. This is defined as is a limitation on the use of your property that appears in the deed to your property and is put there by another person. Deed conditions are used to create the requirements of qualified fee estates.

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