term of years determinable
A 'term of years determinable' is a type of leasehold estate that ends upon the occurrence of a specific event or condition.
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Definition
C2Real Estate Law
(formal, historical, legal)A leasehold estate set for a specific duration but can end earlier when a particular event occurs, such as the death of a person.
Example
- The lease was a term of years determinable and ended with the landlord's death.
- Under a term of years determinable, the tenancy could terminate upon the occurrence of the specified event.
Similar
Terms that have similar or relatively close meanings to "term of years determinable":
term of yearsterm of years absoluterule against perpetuitieskeep term