Estate System

Question 1

3 Freehold Estates

Answer 1

1. Fee Simple
2. Feetail
3. Life Estate

All have seisin

Question 2

3 Non-Freehold Estates

Answer 2

1. Estate for years (term of years)
2. Periodic Tenancy
3. Tenancy at Will

NO Seisin

Question 3

Fee Simple Determinable

FSD

Answer 3

• “So long as”
• “Until”

Possibility of reverter DOES NOT need to be expressed

Question 4

Fee Simple Subject to a Condition Subsequent

FSSCS

Answer 4

• “But if”
• “On condition that”
• “Provided that”

Power of termination and right of entry MUST be expressed

Question 5

Future Interest?

Answer 5

• Present, non-possessory, non-enjoyable “interests” that become possessory – become enjoyable at a future time.
• Here, the emphasis is on interests held consecutively, one after the other in time.

Question 6

Life Estate

Answer 6

Future interest

Interest held now is non-possessory

Becomes possessory when holder of life-estate dies

Question 7

Reversion

Answer 7

The pile of interests that revert, are kept by the transferor of land

“Go back to O”

1. Reversions
2. Possibility of Reverter
3. Power of Termination / Right of Entry

e.g. O to A for life (–––––)

Question 8

Remainders

Answer 8

The pile of interests that “remain” away from the transferor and that are placed in a transferee

“Remain away from O”

1. Vested Remainders
2. Contingent Remainders
3. Executory interests

e.g. O to A for life, then to B in fee simple

Question 9

Vested Remainder

Answer 9

A remainder is vested if at the time the conveyance is made:

1. It is granted to a living (born) and identifiable person

AND – need both

2. It is not subject to any condition preceedent to its enjoyment other than the natural expiration of the prior possessory estate

Question 10

Contingent Remainder

Answer 10

A remainder is contingent if:

Either
1. It is granted to an unborn or nonidentifiable person

OR

2. It is subject to some condition preceedent other than the natural expiration of the prior possessory estate.

Question 11

Executory Interest Birth – Common Law Courts (2 Rules)

Answer 11

1. No freehold estate can be created that springs out of the grantor at a future time
   i. e. O conveys Blackacre to A and his heirs when A marries.
2. A grantor cannot create a remainder in one grantee that becomes “enjoyable” ONLY by cutting short another grantee’s interest
   i. e. O conveys Blackacre to B and his heirs but if Blackacre is used for nonresidential purposes, then to C and her heirs

Question 12

Concurrent Ownership (4)

Answer 12

4 Unities

1) Possession
each concurrent owner has an equal right to possess the whole parcel of land

2) Interest
All concurrent owners must have identical interests (i.e. the same estate in land, the same duration in time)

3) Title
All concurrent owners must have received their interest by the same instrument (deed, will, etc.)

4) Time
All concurrent owners must have received or acquired their interest at the same moment in time

Question 13

Tenancy by Entirety

Answer 13

Need all 4 unities + marriage

Question 14

Tenancy by Entirety (Common Law)

Answer 14

when W married H, H and W become one. H had the right to possess all of W’s land during marriage, including land acquired after marriage. This right was alienable by the H and was reachable by his creditors.

Question 15

Tenancy by Entirety (Sawada)

Answer 15

The interest of a husband or wife in a tenancy by the entirety is not subject to the claims of his or her individual creditors during the joint lives of the spouses.