estates

Question 1

when rap applies

Answer 1

executory interests 
vested remainder subject to open  
contingent remainder 
purchase option 
right of first refusal

Question 2

RAP rule

Answer 2

Is it possible to interpret the facts so someone can claim an interest more than 21 years after everyone currently alive is dead?

Question 3

alienation

Answer 3

total: ok for fee; partial: ok if reasonable

Question 4

joint tenancy four unities

Answer 4

TTIP 
time
intent 
possession 
title

Question 5

termination of JT

Answer 5

inter vivos

(1) partition action
(2) JT sells interest
(3) mortgage
minority: severs
majority: lien

Question 6

severance of tenancy by the entirety

Answer 6

(1) jointly convey to one another
(2) one spouse conveys to the other spouse
(3) divorce

Question 7

profits and co-tenants

Answer 7

no share unless (1) third party like rent; or (2) ouster

Question 8

taxes and CTs

Answer 8

each pays a proportionate share

Question 9

repairs and CTS

Answer 9

no duty to repair but right to offset

Question 10

improvement and CTS

Answer 10

no duty and cannot get setoff; but is taken off sale price

Question 11

life tenant transfer

Answer 11

the life tenant’s heirs are entitled to the use of the land until the measuring life dies

Question 12

open mines doctrine

Answer 12

only allowed mineral extraction if the use already in use

Question 13

life estate duty to not allow waste applies

Answer 13

to both vested and contingent remainders

Question 14

subject to and ‘understanding” language in a conveyance suggests

Answer 14

contractual requirements meaning the remedy is breach of contract not right of reentry or reversion.

Question 15

A FSSCS contains language where?

Answer 15

AFTER the granting clause

Question 16

A restraint against alienation of an inheritable future interest is void where

Answer 16

the restraint may continue in effect after the future interest becomes possessory.

Question 17

power of attorney

Answer 17

The act of selling and conveying property does not necessarily include the further act of making certain promises in connection with such selling and conveying.

Question 18

When the purchaser in a real estate sales contract dies after formation but before closing

Answer 18

the heirs or devisees are entitled to compel the vendor to proceed with the transaction, via a judgment for specific performance if necessary