Estates and Future Interests

Question 1

The Four Categories of Estates

Answer 1

fee simple absolute

fee tail

defeasible fees

life estate

Question 2

Fee Simple Absolute - Language

Answer 2

To A or To A and his heirs

Question 3

Fee Simple Absolute - Characteristics

Answer 3

Absolute ownership that is devisable, descendible, and alienable

Question 4

Fee Simple Absolute - Future Interest

Answer 4

None

Question 5

Devisable

Answer 5

Give by will

Question 6

Descendible

Answer 6

Capable of being inherited, even if no will

Question 7

Alienable

Answer 7

Able to be sold or given to another party

Question 8

Fee Tail - Language

Answer 8

To A and the heirs of body

Question 9

Fee Tail - Characteristics

Answer 9

Pass directly to grantee’s lineal blood descendants, no matter what

Question 10

Fee Tail - Future Interest

Answer 10

O aka Grantor (reversion)

Question 11

Defeasible Fees

Answer 11

Ownership with a catch; 3 types

Fee Simple Determinable

Fee Simple Subject to Condition Subsequent

Fee Simple to Executory Limitation

Question 12

Fee Simple Determinable - Language

Answer 12

To A for so long as - must use clear durational language

Question 13

Fee Simple Determinable - Characteristics

Answer 13

Devisable, Descendible, and Alienable; all with a catch; as soon as condition is violated, forfeiture is automatic.

Question 14

Fee Simple Determinable - Future Interest

Answer 14

Possibility of reverter in O

Question 15

Fee Simple Subject to Condition Subsequent - Language

Answer 15

To A, but if X event occurs, grantor reserves the right to reenter and retake

Question 16

Fee Simple Subject to Condition Subsequent - Characteristics

Answer 16

Estate is not automatic forfeiture if condition violated

Statute of limitations doesn’t start until grantor does something to assert right

Question 17

Fee Simple Subject to Condition Subsequent - Future Interest

Answer 17

O has right of entry aka power to terminate

Question 18

Fee Simple Subject to Executory Limitation - Language

Answer 18

To A, but if X event occurs, then to B

Question 19

Fee Simple Subject to Executory Limitation - Characteristics

Answer 19

Breach is automatic forfeiture but in favor of someone other than the grantor

Question 20

Fee Simple Subject to Executory Limitation - Future Interest

Answer 20

The entity who receives the property after breach is the shifting executory interest

Question 21

Life Estate - Language

Answer 21

To A for life

or

To A for the life of B (pur autre vie)

Question 22

Life Estate - Characteristics

Answer 22

Affirmative waste - willful acts of destruction

Permissive waste - neglect

Ameliorative waste - renovations that aren’t known/consented by future interests

Question 23

Life Estate - Future Interest

Answer 23

O (grantor) - reversion

Third Party - remainder

Question 24

Future Interests to the Grantor

Answer 24

Reverter (only w/ fee simple determinable)

Right of entry (only w/ condition subsequent)

Reversion (only when grantor has carved out less than they have)

Question 25

Future Interests to someone other than Grantor

Answer 25

Vested Remainder (3 types)

Contingent Remainder

Executory Interest (2 types)

Question 26

Vested vs Contigent

Answer 26

vested = created in a person and there is no precedent condition

contingent = created in an unknown person or is subject condition precedent

Question 27

Remainders do not follow______

Answer 27

defeasible fees

Question 28

Indefeasily vested remainder

Answer 28

certain to acquire the estate w/ no strings attached

Question 29

vested remainder to complete defeasance

Answer 29

there’s nothing keeping this remainder from getting the property however, there are subsequent conditions that could cut their time short with it

Question 30

vested remained subject to open

Answer 30

group of takers who are qualified to take possession

it closes whenever any member can demand possesssion

Question 31

Shifting Executory

Answer 31

cuts short someone other than the grantor

Question 32

Springing Executory

Answer 32

cuts short the grantor