Ch. 5 - Estates and Future Interests Flashcards
1
Q
Future Interest is Remainder if…
A
- capable of becoming immediate AND no “but if”
- otherwise, executory interest
2
Q
If Remainder, then vested if…
A
- to ascertainable person AND there is something they must do to get it
- otherwise, contingent remainder
3
Q
If executory interest, then…
A
- Springing - divests transferor
- Shifting - divests transferee
4
Q
Future Interest in Tor…
A
- Reversion - F.S. Absolute
- Poss of Reverter - F.S. Determinable
- Right of Entry - F.S. sub cond sub
5
Q
Future Interest in Tee…
A
Remainder;
- vested remainder
- vest rem sub to divest - vested + cond sub
- vest rem sub to open - vested + open
- contingent remainder
- executory interest - if not remainder
6
Q
RAP
A
- no interest is good unless it must vest within 21 years after the last life in being ends
