Usually means: Conditional ownership that can terminate.
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We found 5 dictionaries that define the word defeasible fee:

General (2 matching dictionaries)
  1. defeasible fee: Wiktionary
  2. defeasible fee: Dictionary.com

Business (3 matching dictionaries)
  1. defeasible fee: Merriam-Webster Legal Dictionary
  2. Glossary of Legal Terms (No longer online)
  3. defeasible fee: Financial dictionary

Definitions from Wiktionary (defeasible fee)

noun:  (law) An estate in land that may be divested from its current owner upon the occurrence of an event set forth by the grantor in the grant.

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