Upon the happening of a specified event, the estate may become void or subject to annulment.

A defeasible estate is created when a grantor places a condition on a fee simple estate (in the deed). Most common law countries have abolished entailment by statute. When all those heirs ran out the property would revert to the original grantor's heirs. and the male heirs of his body', which would restrict those who could inherit the property. Traditionally, fee tail was created by words of grant such as 'to N. It also could be limited in the way that it was inherited, such as by an 'entailment' which created a fee tail.

Historically, estates could be limited in time, such as a life estate, which is a land ownership that terminates upon the grantee's (or another person's) death, even if the land had been granted to a third party, or a term of years (a lease for a specified term, such as in an estate for years). In a sense, one might say fee simple owners 'own' the property 'forever' however, only holders of an allodial title on land really do own the land forever, and land thus held is not subject to property tax. Owners of real property in fee simple title have the right to own the property during their lifetime and typically have a say in determining who gets to own the property after their death.