A clause used in real estate documents that states the term of the interest conveyed to a buyer or party to the contract is called a habendum clause. The interest in the property may be conveyed conditional upon a specified event, such as death, or upon the written revocation of another party as granted in the deed. In either event, a habendum clause spells out what event. or events must occur after which the owner or heirs may act to revoke the ownership interest of another party.