What does qualified deed mean?

Answer 1

Generally a qualified deed is a conveyance of land for a specific purpose, i.e., for a park, cemetery, athletic fields, school, etc. That term may also describe a deed with reversionary language to the effect that if the land should cease to be used for the purposes intended by the grant then the fee reverts to the grantor or to the grantor's heirs. Therefore, a fee interest acquired by virtue of a qualified deed may be revoked under certain circumstances. The qualification of the fee enables the grantor to enforce the continued use of the property for the purpose for which it was donated or granted. It can also prevent the use of the land for other purposes. If your grandmother donated land to the town and specified that it could only be used for school purposes and the school was eventually torn down and rebuilt elsewhere, the town cannot sell that land to a developer. It would revert to your family. There may be other meanings for the term perhaps in tax law.