11:43
Personal stuff with my ex :/. I wanted to vent to strangers on the internet lol
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Simple English definitions for legal terms
power of termination
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A quick definition of power of termination:
The power of termination is a right that a person keeps after giving someone else ownership of something, like a house or land. If the new owner breaks a rule or condition that was agreed upon, the original owner can take back the ownership. This is also called the right of entry or right of reentry. It's like having a backup plan in case something goes wrong.
A more thorough explanation:
The power of termination is a legal term that refers to a future interest retained by a grantor after conveying a fee simple subject to a condition subsequent. This means that the grantee's estate will only terminate if the grantor exercises the right to retake it, usually due to a breach of the condition.
For example, if a landlord grants a tenant a lease for a property, but includes a condition that the tenant must not sublet the property, the landlord retains the power of termination. If the tenant sublets the property, the landlord can exercise their right to retake the property and terminate the lease.
This power is also known as the right of entry, right of reentry, right of entry for breach of condition, or right of entry for condition broken. It is different from the possibility of reverter, which is a future interest that automatically reverts to the grantor if a condition is breached.
Overall, the power of termination gives the grantor more control over the property and allows them to enforce certain conditions or restrictions on the grantee's use of the property.