Alienability Of Property Flashcards
Disabling restraints
Tries to make it impossible for grantee to transfer property.
generally void
Forfeiture restraints
Holder of interest loses it if he tries to transfer.
permitted on life estates and future interests, but void on fee simple.
Promissory restraints
Holder of the interest promises not to transfer it.
Void on a fee simple.
Other restraints permitted
- Limits on who else can lease in a commercial property.
- First right to purchase.
- Requirement that landlord approve an assignee or subleasee.
Action for waste
The party with a vested future interest immediately following the D may bring an action for waste when D is impairing the value of the land.
Excludes acts underway at time of grant, maintenance, acts permitted by the grant.
Permissive waste
Tenant neglects to take care of the property or to pay taxes and thereby diminishes the value.
not required to make repairs more than value or income of property and not required to keep insurance.
Contingent future interests
Courts do not like them so will clear title when possible.
Merger
When person holds both present possession and next vested future interest, they will merge.
only of there is no intervening interest.
Shelley’s case
When life estate to B remainder to heirs of B, in same instrument, the remainder belongs to B too
Abolished by statute in most JDs.
Worthier title doctrine
A gives life estate to B remainder to A’s heirs will be a reverter to A. Abolished by statute in most JDs.
Rule against perpetuators
Interest is void unless it must vest within the life of a person plus 21 years.
measuring life must be in existence at time of creation of the interest. In utero ok.
does not apply to interest held by the grantor or vested interests (except vested contingent remainders subject to open).
does not apply to charities
Perpetuates rule length
Begin when interest is vested: when testator dies, when trust becomes irrevocable, when deed is delivered.
Measuring life is the person who effects the vesting.
