Estates

Question 1

Heirs

Answer 1

Person entitled to succeed to decedent’s estate without a will (THE LIVING DO NOT HAVE HEIRS). Look to the statute how the heirs go. These are determined at the time of death.

Question 2

Intestate Succession

Answer 2

Dying without a Will

Question 3

Testate Succession

Answer 3

Dying with a legally valid will.

Question 4

Devisee

Answer 4

Beneficiaries under the will

Question 5

Decedent

Answer 5

Person who dies

Question 6

Intestate

Answer 6

Someone who has died without a will

Question 7

Issue/Decendents

Answer 7

Down in the family tree

Question 8

Ancestors

Answer 8

Up in the family tree

Question 9

Collaterals

Answer 9

Horizontal in the family tree (cousins, etc.)

Question 10

Escheat

Answer 10

No heirs and the state recovers the property

Question 11

Bequest

Answer 11

Leaving personal property in a will

Question 12

Devise

Answer 12

Leaving real estate in a will

Question 13

Devisee/Beneficiaries

Answer 13

The person who gets teh real estate

Question 14

Owner/Grantor/Testate

Answer 14

Persona who has the property and is passing it on

Question 15

Grantee/Who received the conveyance

Answer 15

The person who gets the property.

Question 16

Freehold Types of Property

Answer 16

1. Fee Simple Absolute
2. Fee Tail
3. Life Estate
4. Leasehold

Question 17

Defeasible Types of Estates

Answer 17

1. Fee Simple Determinable
2. Fee Simple Subject to Condition Subsequent
3. Fee Simple Subject to Executory Limitations

Question 18

Fee Simple Absolute

Answer 18

• Important Wording: “To A (and his heirs)”

* There is no end to this possession.

Question 19

Fee Tail

Answer 19

• Important Wording: “To A and the heirs of his body”

Question 20

Life Estate

Answer 20

• Important Wording: “To A for life”

Question 21

Leasehold

Answer 21

• Important Wording: “To A for XX years”