Estates in Land

Question 1

Estate

Answer 1

Measures a person’s interest in a land

Question 2

Possessory Estates

Answer 2

Party who holds right to possess property now

Question 3

Future Interest

Answer 3

Right to possess in the future (still a present right)

Question 4

Conveyances must have

Answer 4

1. Words of purchase (WoP) to whom right is going; and
2. Words of limiation (WoL) what is the limit on the conveyance

Language is very important

Question 5

Fee Simple Absolute (FSA)

Answer 5

“to A and her heirs”
- True ownership
- Infinite duration
- No future interests
- No inherent restrictions

Question 6

Fee Simple Defeasible

Answer 6

Like an FSA, but MAY last forever
3 Types:
1. Fee Simple Determinable
2. Fee Simple Subject to Condition Subsequent
3. Fee Simple Subject to Executory Interest

Question 7

Fee Simple Determinable

Answer 7

“as long as”
- Right: possibility of reverter (return to grantor)
- Grantor has a future interest

Question 8

Fee Simple Subject to Condition Subsequent

Answer 8

“but if” + right of reentry clause
- Grantor MAY retake property
- Grantor has a future interest in property

Question 9

Fee Simple Subject to Executory Interest

Answer 9

“as long as/but if… then to Y and her heirs”
- Right: Executory Interest
- Shifting: from grantee to 3rd party
- Springing: from grantor (with an unwritten transfer)
- OG owner retains interest until whatever condition is met

Question 10

Life estate

Answer 10

Last for duration of grantee’s life

Question 11

Reversion (Life)

Answer 11

Returns to grantor upon death of grantee

Question 12

Remainder (Life)

Answer 12

Property goes to a 3rd party upon grantor’s death
3 types:
1. Vested
2. Contingent
3. Alternative Contingent

Question 13

Vested Remainder

Answer 13

• Person who receives property after life estate (remainderman) is born and ascertainable
• No express condition precedent in the same or preceding clause

Divestment: Remainderman can lose land before ever taking possession. Ex: To A for life, then to B and her heirs, but if A stops farming, then to C and her heirs

Question 14

Contingent Remainder

Answer 14

Not vested
- If condition precedent is not met by time life estate ends, contingent remainder is destroyed
ex: To A for life, then to B, so long as B has had their 21st birthday.

If A dies before B turns 21 contingent is destroyed

Question 15

Alternative Contingent Remainder

Answer 15

3rd party has future interest only if remainderman fails to satisfy contingent remainder.

Ex: To A for life, then to B and her heirs if B is married, otherwise to C and her heirs