Base Fee


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Base Fee

An interest in real property that has the potential to last forever, provided a specific contingency does not occur.

For example, a grantee might be given an estate in blackacre, "provided the land is not used for illegal purposes."

This type of fee is also known as a conditional, determinable, or qualified fee.

BASE FEE, English law. A tenure in fee at the will of the lord. This was distinguished from socage free tenure. See Co. Litt. 1, 18.

References in periodicals archive ?
Second, the sponsors agreed to remove the requirement that the base fee schedule be adjusted based on geographic and setting-based differentials.
Using a base fee allows the government to reward the contractor's "best efforts" without compromising the intent of the award fee portion.
The base fee under the plan called ''White Plan'' is considerably lower than the cut-rate price of 2,880 yen offered under the ''Gold Plan'' which the company introduced last October.
If the contract contains a base fee provision, the contractor is allowed incremental payment of fee as work progresses.
A more radical fee approach would scrap existing fee arrangements and substitute in their place a very low base fee (e.