An estate created by a conveyance absolute in lts form, hut intended to secure the performance of some act, such as the payment of money, and the like, by the grantor or some other person, and to become void lf the act is performed agreeably to the terms prescribed at the time of making such conveyance. 1 washb. Real Prop. *473
Source: Black’s Law Dictionary 2nd Ed (1910)
