(a) As used in this chapter: (1) âPower of terminationâ means the power to terminate a fee simple estate in real property to enforce a restriction in the form of a condition subsequent to which the fee simple estate is subject, whether the power is characterized in the instrument that creates or evidences it as a power of termination, right of entry or reentry, right of possession or repossession, reserved power of revocation, or otherwise, and includes a possibility of reverter that is deemed to be and is enforceable as a power of termination pursuant to Section 885.020. (2) âPower of terminationâ includes the power created in a transferee to terminate a fee simple estate in real property to enforce a restriction on the use of the real property in the form of a limitation or condition subsequent to which the fee simple estate is subject, whether the power is characterized in the instrument that creates or evidences it as an executory interest, executory limitation, or otherwise, and includes the interest known at common law as an executory interest preceded by a fee simple determinable. (b) A power of termination is an interest in the real property. (c) For the purpose of applying this chapter to other statutes relating to powers of termination, the terms âright of reentry,â âright of repossession for breach of condition subsequent,â and comparable terms used in the other statutes mean âpower of terminationâ as defined in this section.
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