fee simple subject to executory interest

Noun

 * 1)  A defeasible fee created with clear durational language expressing a condition (e.g. "so long as", "until", "while") which causes ownership of a property to revest in a third party identified by the grantor if that condition comes about.
 * Joe gives Mike an estate in land "so long as no alcohol is brought onto the property, in which case the property will go to Harry"; this creates a fee simple subject to executory limitation- if alcohol is brought onto the property, Harry automatically takes ownership.