Estates in Land Flashcards
How to create a fee simple absolute in N.C.?
Presumption there is is a fee simple conveyance
Fee simple will be created if: to heirs
A fee simple determinable magic words
3
- until
- so long as
- while
In N.C. where a deed uses durational language but does not include language regarding the possibility of reverter in a grantor:
What is the effect?
- then it does not automatically revert back to the grantor
- fee simple of determinable does not automatically have a possibility of reverter
- Spot the issue that it may not be a fee simple determinable and actually a fee simple absolute
Key difference between Fee Simple Subject to Condition Subsequent and fee simple determinable
Determinable terminates automatically
Fee simple subject to condition needs an affirmative act to take possession –> must take an affirmative action to re-enter
What is the duty of the holder of a life estate?
To not commit waste
Rights in a life estate?
Present possession for life
Can a life estate be sold?
Yes, could reassemble fee simple or convey to someone else
Not divisible or inheritable
Fee Tails in N.C., what happens if someone tries to create a fee tail?
abolished the fee tail estate
cannot have “to A and heirs of A’s body” –> if a fee tail is attempted, then it becomes a fee simple
The rule in shelley’s case? N.C. Application
Situation: Grant from O to A for Life then to A’s heirs
Rule: A gets a fee simple absolute
Abolished now, do not change
The Doctrine of Worthier Title? N.C. Application
Situation: Grant to O to A for Life then to O’s Heirs
Rule: O to A for life
Abolished now, do not change
N.C. Rule of Perpetuities application
Uniform Statutory Rule of Perpetuities
An interest is good if it satisfies the common law test or wait and see if the interest will vest in 90 years
What kind of interests apply to N.C. Perpetutities
- contingent remainders
- executory remainders
- class gifts
Statutory time limits on duration on
- Possibility of Reverter
- Power of termination
60 year gross period limitation
What is a concurrent estate?
This is just a fee simple owned by two or more persons concurrently.
Tenancy in common rights
4
Default
- go anywhere on the land without being a trespasser
- alienable, devisable, and inheritable
- Each own an interest in the whole land at the same time
- Right to request judicial partition
Joint Tenancy Rule in N.C.
There is no right of survivorship unless explicitly stated
“Joint Tenancy with Right of Survivorship”
How to terminate the right of the survivorship?
If they transfer their property during life
Tenancy by Entirety in N.C. Applies only to? When?
3
- land (any land held) (≠personal property)
- persons who are married to one another
- Default when husband and wife take title together (unless something to contrary appears)
Tenancy by Entirety in N.C. Rights
3
- neither can unilaterally sell the property interest
- Right of survivorship without having to write in
- Creditor Protection: creditors of either solely husband or wife cannot go after the property (creditors of both could)
Law treats husband and wife as one person, cannot act unilaterally
If state exercises eminent domain, and converts tenancy by the entirety into money by a forced sale; what is the effect?
The money can be held as a tenancy by entirety
-husband and wife must ask as a unit and make a mutual decision about what to do.
What is estoppel by deed?
When a grantor was once conveyed ineffectively; however, later they acquire title to it and it automatically passes to grantee
Transfers from husband to wife or vice versa creates?
tenancy be the entirety
When will personal property be subject to tenants by the entirety?
When it is a mobile home.
