What legal concept ensures that property changes hands under specific conditions in a deed?

The legal concept that ensures property changes hands under specific conditions in a deed is known as a defeasible fee. This type of estate is characterized by the inclusion of specific conditions or terms that, if violated, can result in the termination of the ownership. For instance, a defeasible fee might require the property owner to use the land for a certain purpose or maintain it in a particular manner. If the owner fails to adhere to these conditions, the property may revert to the original grantor or a third party designated in the deed.

Understanding defeasible fees is crucial in real estate because they outline the obligations and limitations placed on property ownership, thereby affecting both the rights of the current owner and the interests of the party granting the property. This mechanism ensures that property transfers are not only about the exchange of ownership but also enforce specific intentions laid out in the deed itself.