9: Introduction to Present Possessory Estates, Terminology Flashcards
Present Possessory Estates
type of property ownership where the holder has the present or current right to possess the real property
“to B and his heirs”
PPE, Fee Simple Absolute
the most common form of property ownership
PPE, Fee Simple Absolute
absolute ownership of potentially infinite duration
PPE, fee simple absolute
Fee simple absolute is freely _____, _____, _____, _____ (TADD)
alienable, transferable, devisable (able to be transferred by will), descendible (will pass to heirs through intestacy)
Fee simple absolute has _____ corresponding future interest
no
fee simple absolute is a present _____ _____
present possessory estate
May be terminated by the occurrence of an event
PPE, Defeasible Fees
Defeasible fees are present _____ _____
possessory estates
“to B and his heirs, until B gets married”
PPE, fee simple determinable
Fee simple determinable is limited by specific _____ language
durational
Fee simple determinable terminates _______ upon the happening of a stated condition
automatically
FSD
Fee simple determinable
FSD, Future Interest: possibility of _______
possibility of reverter
FSD, Future Interest, POR: upon the occurrence of the stated ______, the estate automatically reverts back to the ______ (automatic forfeiture)
condition, grantor
FSD is _____, _____, _____ (but condition still applies)
transferrable, devisable, descendible
FSDPOR
fee simple determinable possibility of reverter
Frank Sinatra Didn’t Prefer Olivia Rodrigo
fee simple determinable possibility of reverter
“to B and his heirs, but if B gets married, then A can reenter Blackacre”
PPE, Fee Simple Subject to Condition Subsequent
FSSTCS
Fee simple subject to condition subsequent
FSSTCS is a present _____ _____
possessory interest
Fee simple subject to condition subsequent is ______ in ______ by specific ______ language
Fee simple subject to condition subsequent is limited in duration by specific conditional language
Fee simple subject to condition subsequent is _____ indefinite, but subject to defeasance upon the happening of a ______ event
Fee simple subject to condition subsequent is potentially indefinite, but subject to defeasance upon the happening of a specified event
FSSTCS, Future Interest, right of _____
FSSTCS, Future Interest, right of entry
FSSTCS, Future Interest, Right of Entry: held by the _____, termination is not _____, if stated condition occurs, the present fee simple will terminate only if grantor _____ demonstrates _____ to terminate
FSSTCS, Future Interest, Right of Entry: held by the grantor, termination is not automatic, if stated condition occurs, the present fee simple will terminate only if grantor affirmatively demonstrates intent to terminate
“to B for as long as the property is used as a hospital, then to C”
PPE, Fee Simple Subject to Executory Limitation
FSSTEL
Fee Simple Subject to Executory Limitation
Fee simple subject to executory limitation is limited in duration by either ______ OR ______ language, such that it will ______ upon the occurrence of the specified condition, and title will pass to a third party (someone other than the ______)
Fee simple subject to executory limitation is limited in duration by either durational OR conditional language, such that it will terminate upon the occurrence of the specified condition, and title will pass to a third party (someone other than the grantor)
FSSTEL, Future Interest: ______ interest (_____ forfeiture to third party)
FSSTEL, Future Interest: executory interest (automatic forfeiture to third party)
FSSTEL, Future Interest: ______ ______
executory interest
“to B and the heirs of his body”
PPE, Fee Tail
Fee Tail is a present ______ ______
present possessory interest
Fee Tail is ______ in most states
eliminated
Fee Tail _____ the estate to the grantee’s _____ _____ _____ by specific words of limitation
Fee Tail limits the estate to the grantee’s lineal blood descendants by specific words of limitation
Attempted creation of a _____ _____ is usually construed as a fee simple absolute
fee tail
“to B for life”
PPE, Life Estate
Life Estate is ______ in ______ by a life
Life Estate is limited in duration by a life
Life estate is never measured in terms of ______
years
Life Estate: upon the end of the measuring life, title reverts to the _____ or a specified _____
grantor or remainderman
Life Estate, Future Interest: ______ to grantor or remainderman
reversion
Life Estate: a life tenant is ______ to all reasonable uses and profits from the land
entitled
Life Estate: the life tenant must not _____ _____
commit waste
“to B for the life of C”
PPE, Life estate pur autre vie: life estate for the lifetime of another
“to B, in the hope that she will go to law school”
words of hope and desire, NOT binding
“to A, as long as she never sells the property”
restrains on alienation are unenforceable UNLESS linked to a reasonable time duration: “to A, as long as she doesn’t sell the property in the next 5 years”
