Estates Flashcards
Definition
legal right to posses/occupy land for a certain period of time. Just an interest in the land, not allodial ownership
Fee simple
inheritable without qualification (to a and his heirs)
Fee tail
inheritable with lineal qualification (to a and the heirs of his body)
Life estate
estate for life (to a for life)
Autre vie
estate for life of another (to B for life of A)
Reversion
A future interest. A has fee simple, grants it “to B for life” –> A then has a reversion (when B dies, A will get the rest of the estate. A is called the reversioner)
Remainder
Ability to create estates in succession. A grants to B for life and to C in fee simple after. C is called the remainderman. Can also impose a contingency
Leasehold estates
Originally, no recovery if evicted by a 3P. Over time, added in protection (introduction of Chattel real)