Conveyance Flashcards
How does the use of land contrary to the conveyance change the interests each party has in the land?
IF a condition to a fee simple determinable is satisfied, the property automatically goes back to the transferor. The possibility of reverter need not be actively exercised as it happens automatically.
Conveyance is conveyed with…
“Joint tenancy with rights of survivorship” and joint tenancy may be held by non-spouses.
“I convey to Bobby”
Tenancy in common, default
“I convey to Amy and Bobby joint tenancy with rights of survivorship”
Joint tenancy.
You may not pass on property to children, as the other surviving co-tenant will receive the property automatically as they have the right of survivorship.
Conveyance
An inter vivos transfer by gift or sale, either directly to the beneficiary or to a trust.
