Chapter 2 Flashcards

1
Q

What is the name of the part of the conveyance that tells you who is receiving the conveyed interest?

A

Words of purchase

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2
Q

What is the name of the part of the conveyance that tells you what kind of interest that person is receiving?

A

Words of limitation

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3
Q

Underline the words of purchase and bolden the words of limitation, if any. Beside each conveyance, write the name of the estate being conveyed to A (fee simple, fee tail, life estate, or term of years).

O to A and her heirs.

A

O to A and her heirs. (fee simple)

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4
Q

Underline the words of purchase and bolden the words of limitation, if any. Beside each conveyance, write the name of the estate being conveyed to A (fee simple, fee tail, life estate, or term of years).

O to A for 2 years.

A

O to A for 2 years. (term of years)

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5
Q

Underline the words of purchase and bolden the words of limitation, if any. Beside each conveyance, write the name of the estate being conveyed to A (fee simple, fee tail, life estate, or term of years).

O to A and the heirs of his body.

A

O to A and the heirs of his body. (fee tail)

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6
Q

Underline the words of purchase and bolden the words of limitation, if any. Beside each conveyance, write the name of the estate being conveyed to A (fee simple, fee tail, life estate, or term of years).

O to A for the life of B.

A

O to A for the life of B. (life estate)

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7
Q

Underline the words of purchase and bolden the words of limitation, if any. Beside each conveyance, write the name of the estate being conveyed to A (fee simple, fee tail, life estate, or term of years).

O to A for the life of B.

A

O to A for the life of B. (life estate pur autre vie)

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8
Q

Underline the words of purchase and bolden the words of limitation, if any. Beside each conveyance, write the name of the estate being conveyed to A (fee simple, fee tail, life estate, or term of years).

O to A. (assume modern law)

A

O to A. (fee simple)

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9
Q

What is the duration of B’s estate (if any)?

O conveys to A and her heirs. (B is A’s only child.)

A

A has a fee simple. B has nothing

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10
Q

What is the duration of B’s estate (if any)?

O conveys to A for life. Then A conveys to B.

A

B has a life estate pur autre vie. A is the measuring life. B’s life estate will last until A dies.

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11
Q

What is the duration of B’s estate (if any)?

O conveys to A and the heirs of his body. Then A conveys to B. (Assume original fee tail.)

A

A (the owner of the fee tail in its original form) can convey only the right to possess the land during A’s life. Therefore, B’s estate will last only until A dies.

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12
Q

What is the duration of B’s estate (if any)?

O conveys to A for 10 years. Then A immediately conveys to B.

A

B’s estate will last for the remainder of the 10 years.

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13
Q

What is the duration of B’s estate (if any)?

O conveys to A for life. Then A conveys to B for 2 years. One month later A dies.

A

B’s estate ends when A dies.

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14
Q

What is the duration of B’s estate (if any)?

O conveys to A and his heirs. Then A conveys to B for 2 years. One year later A dies.

A

B’s estate is unaffected by A’s death. B has one more year of possession left.

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15
Q

What is the duration of B’s estate (if any)?

O conveys to A for life. In 1993, conveys to B for 2 years. A dies in 2001.

A

B’s estate ended in 1995.

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16
Q

What is the duration of B’s estate (if any)?

O conveys to A and the heirs of her body. Then A dies, devising her entire estate to her husband, B. A has one child, C.

A

B has no estate. Upon the death of the holder, a fee tail passes automatically to the holder’s issue without regard to the terms of the holder’s will. C has the right to possession.

17
Q

What is the duration of B’s estate (if any)?

O conveys to A for life. Then A dies, devising her entire estate to B.

A

B has no estate. Upon the death of A, the life estate ended.

18
Q

For each person other than O, state whether that person has an interest in the property:

O to A and the heirs of his body. A has two sons (B and C) and two grandchildren (D and E).

A

A has an interest.

19
Q

For each person other than O, state whether that person has an interest in the property:

O to A and her heirs. A has a husband (B) and one child (C).

A

A has an interest.

20
Q

For each person other than O, state whether that person has an interest in the property:

O to A for the life of B.

A

A has an interest.

21
Q

For each person other than O, state whether that person has an interest in the property:

O to A. A has no husband and no children but has a living father and mother. (Assume modern law.)

A

A has an interest.

22
Q

For each person other than O, state whether that person has an interest in the property:

O to A for life. Then A conveys to B. B dies intestate with one heir, C.

A

C has an interest.

23
Q

After the conveyance, state what interest A has and whether someone other than A has an interest in the property. If so, who and why?

O to A for 2 years.

A

A has a term of years. O has the right to possession after A’s term of years ends.

24
Q

After the conveyance, state what interest A has and whether someone other than A has an interest in the property. If so, who and why?

O to A and the heirs of his body.

A

A has a fee tail. O has the right to possession after A’s issue die out.

25
Q

After the conveyance, state what interest A has and whether someone other than A has an interest in the property. If so, who and why?

O to A for life.

A

A has a life estate. O has the right to possession after A dies.

26
Q

After the conveyance, state what interest A has and whether someone other than A has an interest in the property. If so, who and why?

O to A and her heirs

A

A has a fee simple. No one else has a right to possession either now or in the future.

27
Q

After the conveyance, state what interest A has and whether someone other than A has an interest in the property. If so, who and why?

O to A for the life of B.

A

A has a life estate pur autre vie. O has the right to possession after B (the measuring life) dies.

28
Q

After the conveyance, state what interest A has and whether someone other than A has an interest in the property. If so, who and why?

O to A. (Assume modern law.)

A

A has a fee simple. No one else has a right to possession either now or in the future.

29
Q

“I have a 30-year lease on property located at Interstate Exit 109, and my lease allows me to build a building on the property. i want to use the property for a gas station, and I was about to talk to an architect about drawing up plans to build it. But I’ve just discovered that the deed of my lessor ( the man who leased me the property) says that he has something that is called a ‘life estate’ in the property. Should I be concerned?”

A

“Yes you should be concerned. If your lessor has only a life estate in the property, your lease will end when your lessor dies. Even if your lessor is young and healthy, accidents happen. You don’t want to invest a lot of money in improvements to the property without knowing whether you’ll be able to recoup the investment. The first thing to do is to confirm that your lessor has only a life estate. If so, you should find out who owns the other interests in the property. If you can negitioate a leasehold interest from all other owners, you can proceed safely. If not, you should reconsider.”

30
Q

“I have been diagnosed with a terminal illness, and I want to arrange my financial affairs in preparation for my death. My husband and I live in my parents’ house which they devised to me when they died. I own the house in fee simple. I want to be sure my husband, who is disabled, can live in that house for the rest of his life. Upon his death, I want the house to go to my son by my first marriage. How can I arrange that?”

A

“You can grant your husband a life estate in the property now. Then you can devise to your son all your remaining interest in the property. If you don’t want to dispose of your possessory estate before you die, you can devise a life estate to your husband and devise all remaining interest to your son.”

31
Q

“My husband devised to me a life estate in the house he owned at his death. He devised all of the rest of his property to his son by his first marriage. I have been living in the house for the 10 years since he died. However, I am beginning to have health problems and I want to move to the town where my daughter and her family live. Yesterday I put a ‘For Rent’ sign in the front yard, and last night my husband’s son by his first marriage, Bob, called me. He said that I can’t rent the house. He said that if I move out, the house goes to him. But I need the rental income from the house because I’ll have to rent an apartment in my daughter’s town. Is Bob right?”

A

“No Bob isn’t right, and you can rent the house. When your husband devised all of his other property to Bob, Bob received the right to the house after you die. However, as long as you live, you have the possesory estate, and that right includes the right to lease it to someone else. If you were to die during the lease period, your tenant’s rights under the lease would end, though, so you’ll want to be candid with a prospective tenant about that possibility. As a practical matter, that possibility might affect your market and perhaps the amount of rent you can expect, but you may find a tenant who isn’t concerned about the possibility of having to move at some point.”