What characterizes a fee simple determinable estate?

A fee simple determinable estate is characterized by its automatic termination upon the occurrence of a specified event. This means that if the event occurs, the ownership automatically reverts to the grantor or the grantor's heirs without the need for any legal action. The defining feature of a fee simple determinable is its reliance on clear language in the deed or conveyance that specifies the particular condition or event that will terminate the estate. This type of ownership is marked by phrases such as "so long as," "until," or "while," which indicate the timeframe within which the stated conditions must be met to retain ownership.

The other options do not accurately describe the characteristics of a fee simple determinable. While automatic reversion upon a specific event is a key aspect, the notion of transferring ownership automatically may imply a broader context that doesn't specifically relate to the determinable nature. Allowing life tenants to alter the property pertains more to life estates rather than fee simple determinables. Lastly, the characterization of requiring no conditions for retention contradicts the very nature of fee simple determinable, which inherently relies on conditions for its continuance.