Estates Future Interests Flashcards
O to A & his heirs
A = fee simple absolute / no future interest
O to A for Life, Then to B & his heirs
A = Life Est / B = Absl Vested Remainder / NOT RAP
O to A for Life , the to B in Fee Simple IF B MARRIES C
A = Life Est , B = CONTINGENT Remainder, O = Reversion
RAP only Applies
- Executory Interests
- Contingent Remainders
- Vested Remainder Subject to OPEN
RAP
No interest is good unless it must vest, if at all, no later than 21 years after the death of some life in being at the creation of the interest
O to A for life, Then to B, BUT IF B marries C , then property shall revert to O
A= life Est, B = Vested Remainder (the to B part) Subject to Divestment (the BUT IF marries C part) , O = Reversion
O to A SO LONG AS no alcohol served on the premises
O = Poss of Reverter / A = Fee Simple Determinable
O to A SO LONG AS no alcohol is EVER served on the premises then to B
A = FS Determinable / B = Executory (So long as no alcohol - execute A’s interest)
Violates RAP b/c O A B can all be dead when alcohol served
O to A SO LONG AS A never serves alcohol on the premises then to B
A - FS Determinable / B = Exceutorty Interest / RAP = NO Violation b/c A HAS TO BE ALIVE TO SERVE ALCOHOL
O to A for Life then to A’s first son to reach 25 (A has an infant son)
A = Life Est , Son has CONTINGENT (son reaching 25) Remainder - RAP applies but is violated bc could all die and A has baby son at death then over 21 yrs
O to A for Life then to A’s first son to reach 18 (A has an infant son)
A = Life Est , Son has CONTINGENT (son reaching 25) Remainder - RAP applies but is NOT violated bc could all die and A has baby son at death BUT will vest w/in 21 yrs (18 actually)
O to A for Life , Remainder to B, BUT if B fails the bar exam, then property shall revert to O
A = Life Est, B = Vested (B/C “then to B”) Remainder subject to Divestment (Failing Bar) , O = Poss of Reverter
RAP only Applies - (second card)
- Executory Interests
- Contingent Remainders
- Vested Remainder Subject to OPEN
O to A for Life , Then to B, IF B PASSES the bar (B = A’s child)
A = Life Est, B = Contingent Remainder , O =Reversion
O to A for Life , Then to A’s first child to pass the bar exam
A = Life Est, O = Reverter, A’s 1st kid = contingent Remainder , RAP Applies = Violates it b/c It could vest more then 21 yrs after O & A die // A could have baby at death & kid passes exam at 25
O to A for Life, Then to A’s widow for life, then to A’s children then living (A is alive and married to Z)
A = Life Est, Child = Contingent Reminder , O = Nothing
RAP - Violates bc they have to survive A’s Widow ..who we don’t know and is not a life in being (UNBORN WIDOW PROBLEM)
O to A for life, Then to Z for life, then to A’s children then living (A is alive and married to Z)
A = Life Est, Z = Lif Est, A’s children = Vested Reminder Subject to Open / RAP Applies = NOt violated b/c O A Z die & Child will get w/in 21 yrs
Reminder to B if B graduates Law School - What does B have ?
A Contingent Remainder
remainder to children of B ( B alive & has NO Children) What is the Remainder ?
Contingent Remainder - contingent on having children
remainder to children of B ( B alive & has 1 Child) What is the Remainder ?
Vested Reminder Subject to Open - Vested b/c 1 child / open b/c open to more kids possibly
reminder to B - Reminder is what?
Absolutely Vested Reminder - we know who B is and that B will get it
Reminder to , but if B flunks out of college then property reverts to O - what is the reminder B has called ??
Vested (b/c we know who B is ) Reminder (follows life est) , Subject to Divestment (flunking out)
Fee Simple Determinable can what? Terminates how?
On some specific event … so long as used …. Then O would have a Poss of Reverter
Condition Subsequent // Grantor has a what interest?
Right of Entry
Terms:
- so long as
- and his heirs
- Provided that
- and the heirs of his body
- but if .. then to 3rd party
- for life
- on the condition that
- during
- Fee Simple Determinable
- FS Absolute
- FS subject to Condition Subsequent
- Fee Tail
- FS Subject to Executory Limitation
- Life Est
- FS Subject to Condition Subsequent
- FS Determinable
