Estates and Future Interests Problems Flashcards
O conveys “to A and the heirs of his body”
What type of freehold estate?
What does O retain?
Fee Tail
O retains a reversion
Words of duration that creates a fee simple determinable___
so long as
while
until
during
Future interest that follows a fee simple determinable
Automatically becomes possessory upon the happening of the stated condition
Possibility of reverter
Words of duration that creates a fee simple subject to a condition subsequent____
provided that
but if
on condition that
Future interest that follows a fee simple subject to a condition subsequent
Transferor must take affirmative steps in a reasonable amount of time
Right of re-entry
O conveys “to B provided that the land is used as a church, then to C”
B has a fee simple subject to an executory limitation
C has a fee simple absolute after condition breach
O has nothing
O conveys “to B for life, then to D if D becomes president”
B has a life estate
D has a contingent remainder
O retains a reversion
O conveys Greenacre “to B for life, then to D’s children”
B has a life estate
D’s children has a vested remainder subject to open
D has nothing
Condition precedent is
condition that must be met before the remainder can become possessory (not including natural termination of the prior estate)
O conveys “to E when E marries”
E would have a Springing Executory Interest because E is divesting something from O
O has a fee simple subject to an executory limitation
O conveys “to A 15 years from now”
A would have a springing executory interest because A is divesting O
O has a fee simple subject to an executory limitation
O conveys “to H and her heirs”
H has a fee simple absolute
O has nothing
Heirs has nothing (not even there problem really reads O conveys to H)
O conveys Greenacre “to B for the life of C”
B has a life estate measured by the duration of C’s life (estate pur autre)
O has a reversion
O conveys “to B until B dies”
B has a life estate
O has a reversion
O devises “to C for life, then to X”
C has a life estate
X has a indefeasibly vested remainder in fee simple absolute
O has nothing
O devises “to C and her children”
C and her children have a fee simple absolute together
O has nothing
O conveys “to D and the children of his body”
D and children have a fee simple absolute together
O has nothing
O devises “to C, so long as the land is used as a school, then to H and her heirs”
C has a fee simple subject to an executory limitation
H has a shifting executory interest BECAUSE the property is divested and the land came from a transferee (C) not the original grantor (O)
O conveys “to A for life, then to B”
A has a life estate
B has a indefeasibly vested remainder in fee simple absolute
O has nothing
Why a remainder?
–capable of becoming possessory immediately upon the expiration of A’s life estate
–cannot divest any previous interest
Why indefeasibly vested?
–B is ascertainable at the time of conveyance AND
–no condition precedent
O conveys “to C for life then to D and his heirs if D lives to the age of 30”
C has a life estate D has a contingent remainder O has a reversion Why a remainder? --it is capable of becoming possessory immediately upon the expiration of C's life estate AND --it cannot divest any interest Why is it contingent? --because it is subject to a condition precedent, namely that D live to be 30 yrs old
O conveys “to E for life, then to F’s children and their heirs” (assume F has never had children)
E has a life estate F's children has a contingent remainder O has a reversion Why a remainder? --capable of becoming possessory immediately upon expiration of E's estate AND --it cannot divest any interest Why contingent? because F has no children at the time of the conveyance, and they are therefore not ascertainable
O devises “to G for life, then to H, but if H does not survive G, then to I”
G has a life estate
H has a vested remainder subject to divestment subject to an executory limitation
I has a shifting executory interest
O has nothing
Remainder for H because
–capable of becoming possessory immediately upon expiration of G’s life estate AND
–cannot divest any other interest
Remainder for H is vested because
–H is ascertainable at time of conveyance AND
–there is no condition precedent
I has an executory interest because it can become possessory only by divesting H; it is shifting because I takes from H a transferee
O conveys “to J for life, then to K for life, then to L’s children” (assume L is alive and has one child named M)
J has a life estate
K has a indefeasibly vested remainder in a life estate
M has a vested remainder subject to open
Potential future children of L has a shifting executory interest
O has nothing
L has nothing
Explanation for K’s interest
–remainder because it is capable of becoming possessory immediately after J’s life estate AND cannot divest any other interest
–VESTED remainder because K is ascertainable at the time of conveyance AND there is no condition precedent
Explanation of M’s interest
Why vested subject to open
–L may have more children following conveyance
Explanation of L’s potential kids
–executory interest because they are unascertainable
–shifting because divesting from transferee M
O conveys “to A 15 years from now”
O retains possession for the next 15 years in fee simple subject to an executory limitation
Why executory limitation?
–because A will divest O of O’s estate
A has a springing executory interest
Why?
because A’s future interest will divest O of O’s estate and because A takes from the transferor
O conveys “to when E marries”
E has a springing executory interest in fee simple
O has a fee simple subject to an executory limitation
O conveys “to E when he marries but only if he marries someone Greek Orthodox”
E has a springing executory interest in fee simple
O has a fee simple subject to an executory limitation
Is this conveyance valid? What are the public policy concerns?
–this is valid
–But not valid if the term is against an ethnic group “only if he marries a caucasian”
–religion OK, ethnicity or race not OK
O devises to “F as long as no alcohol is served on the property and if alcohol is served there, then to Alcoholics Anonymous”
F has a fee simple subject to an executory limitation
AA has a shifting executory interest
O has nothing
O conveys “to G for life, and then to H if H becomes a lawyer”
G has a life estate
H has a contingent remainder
O has reversion
Why does H have a remainder?
–it is capable of becoming possessory immediately upon the expiration of G’s life estate AND
–it cannot divest any other interests
Why is it contingent?
–because it is subject to a condition precedent
**O retains a reversion because H’s contingent remainder may never vest
O conveys “to A, for O’s life, then to B for life, then to C and the children of his body”
A has a life estate pur autre vie
B has vested remainder in life estate
Remainder
–capable of becoming possessory immediately upon the expiration of A’s life estate pur autre vie AND
–it cannot divest any other interests
Vested remainder because B is ascertainable AND there is no condition precedent
C has vested remainder in fee simple absolute
O has nothing
3 Concurrent estates
1) Tenancy in Common
2) Joint Tenancy
3) Tenancy By the Entirety
