Estates Future Interests

Question 1

O to A & his heirs

Answer 1

A = fee simple absolute / no future interest

Question 2

O to A for Life, Then to B & his heirs

Answer 2

A = Life Est / B = Absl Vested Remainder / NOT RAP

Question 3

O to A for Life , the to B in Fee Simple IF B MARRIES C

Answer 3

A = Life Est , B = CONTINGENT Remainder, O = Reversion

Question 4

RAP only Applies

Answer 4

1. Executory Interests
2. Contingent Remainders
3. Vested Remainder Subject to OPEN

Question 5

RAP

Answer 5

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

Question 6

O to A for life, Then to B, BUT IF B marries C , then property shall revert to O

Answer 6

A= life Est, B = Vested Remainder (the to B part) Subject to Divestment (the BUT IF marries C part) , O = Reversion

Question 7

O to A SO LONG AS no alcohol served on the premises

Answer 7

O = Poss of Reverter / A = Fee Simple Determinable

Question 8

O to A SO LONG AS no alcohol is EVER served on the premises then to B

Answer 8

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

Question 9

O to A SO LONG AS A never serves alcohol on the premises then to B

Answer 9

A - FS Determinable / B = Exceutorty Interest / RAP = NO Violation b/c A HAS TO BE ALIVE TO SERVE ALCOHOL

Question 10

O to A for Life then to A’s first son to reach 25 (A has an infant son)

Answer 10

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

Question 11

O to A for Life then to A’s first son to reach 18 (A has an infant son)

Answer 11

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)

Question 12

O to A for Life , Remainder to B, BUT if B fails the bar exam, then property shall revert to O

Answer 12

A = Life Est, B = Vested (B/C “then to B”) Remainder subject to Divestment (Failing Bar) , O = Poss of Reverter

Question 13

RAP only Applies - (second card)

Answer 13

1. Executory Interests
2. Contingent Remainders
3. Vested Remainder Subject to OPEN

Question 14

O to A for Life , Then to B, IF B PASSES the bar (B = A’s child)

Answer 14

A = Life Est, B = Contingent Remainder , O =Reversion

Question 15

O to A for Life , Then to A’s first child to pass the bar exam

Answer 15

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

Question 16

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)

Answer 16

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)

Question 17

O to A for life, Then to Z for life, then to A’s children then living (A is alive and married to Z)

Answer 17

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

Question 18

Reminder to B if B graduates Law School - What does B have ?

Answer 18

A Contingent Remainder

Question 19

remainder to children of B ( B alive & has NO Children) What is the Remainder ?

Answer 19

Contingent Remainder - contingent on having children

Question 20

remainder to children of B ( B alive & has 1 Child) What is the Remainder ?

Answer 20

Vested Reminder Subject to Open - Vested b/c 1 child / open b/c open to more kids possibly

Question 21

reminder to B - Reminder is what?

Answer 21

Absolutely Vested Reminder - we know who B is and that B will get it

Question 22

Reminder to , but if B flunks out of college then property reverts to O - what is the reminder B has called ??

Answer 22

Vested (b/c we know who B is ) Reminder (follows life est) , Subject to Divestment (flunking out)

Question 23

Fee Simple Determinable can what? Terminates how?

Answer 23

On some specific event … so long as used …. Then O would have a Poss of Reverter

Question 24

Condition Subsequent // Grantor has a what interest?

Answer 24

Right of Entry

Question 25

Terms:

1. so long as
2. and his heirs
3. Provided that
4. and the heirs of his body
5. but if .. then to 3rd party
6. for life
7. on the condition that
8. during

Answer 25

1. Fee Simple Determinable
2. FS Absolute
3. FS subject to Condition Subsequent
4. Fee Tail
5. FS Subject to Executory Limitation
6. Life Est
7. FS Subject to Condition Subsequent
8. FS Determinable