Chapter 6 Flashcards
If the future interest following a fee simple determinable is in a second grantee, what is it called?
Executory interest
What do we call the future interest following a fee simple subject to an executory limitation?
Executory interest
What do we call a second grantee’s future interest when it follows a conveyance like “to A and her heirs until B retires from the Army”?
Executory interest
To whom does an executory interest belong?
A grantee
Distinguish between an executory interest and a right of entry or possibility of reverter.
An executory interest is a future interest held by a grantee, while a right of entry or possibility of reverter is a future interest retained by the grantor.
What are the common words of temporal limitation that signal a determinable estate followed by an executory interest?
Until, while, during, so long as
What are the common words of express condition that signal an estate followed by an executory limitation (followed by an executory interest)?
But if, however, on condition that, provided that
Does an executory interest take effect automatically upon the happening of the condition?
Yes
What do you call a second grantee’s future interest that follows a life estate determinable?
Remainder
Of the future interests following an estate with an added limitation, which is the only one that does not operate automatically upon the happening of the condition?
Right of entry
What is the state of the title?
O to A and is heirs, but if A does not graduate college, then to B.
O to A and is heirs, | but if A does not graduate college, then to B. |
A: possessory estate in fee simple subject to executory limitation
B: executory interest in fee simple absolute
What is the state of the title?
O to A while being used as a farm.
O to A while being used as a farm. |
A: possessory estate in fee simple determinable
O: possibility of reverter in fee simple absolute
What is the state of the title?
O to A and her heirs until no longer used for a church, then to B.
O to A and her heirs until no longer used for a church, | then to B.
A: possessory estate in fee simple determinable
B: executory interest in fee simple absolute
What is the state of the title?
O to A for life.
O to A for life. |
A: possessory estate in life estate
O: reversion in fee simple absolute
What is the state of the title?
O to A and her heirs; | however, if used for a pool hall, then to B and his heirs.
O to A and her heirs; ** | **however, if used for a pool hall, then to B and his heirs. |
A: possessory estate in fee simple subject to an executory limitation
B: executory interest in fee simple absolue