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Property > Estates In Land > Flashcards

Estates In Land Flashcards

1
Q

Few simple absolute

A

Can be sold, divided, devised, or inherited and had an indefinite potentially infinite duration.

“To A (and his heirs)”

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2
Q

Fee simple determinable (and possibility of reverter)

A

Terminates upon the happening of a stated event and automatically reverts to the grantor.

Created by durational language.

To A...
“For so long as”
“While”
“During”
“Until”

Grantor automatically retains a possibility of reverter, a reversionary future interest.

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3
Q

Few simple subject to condition subsequent (and right of entry)

A

Estate in which the grantor reserves the right to terminate the estate upon upon he happening of a states event.

Estate does not automatically terminate - grantor must take action.

Created with conditional words…
“Upon condition that”
“Provided that”
“But if”

Correlative future interest in grantor: right of entry. Must be expressly reserved. Doesn’t arise automatically. Right of entry is decidable and descendible.

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4
Q

Few simple subject to executors interest

A

If a few simple estate terminates upon the happening of a stated event and then passes to a third part rather than reverting back to grantor or giving grantor right to terminate. Third party has an executory interest.

“To A so long as…but if…to B”

Conditions and limitations violating public policy are struck down and the grantee takes free of restraint.

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5
Q

Life estate

A

Measured by the life or lives of people. May be created by operation of law or conveyance.

Usual life estate measured by life of the grantee.
“To A for life”.
“To B after the life of A”.

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6
Q

Life estate pur autre vie

A

Measured by a life other than the grantee’s. Also results when the life tenant conveys his life estate to another.

“To A for the life of B”

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7
Q

Rights & Duties of Life Tenant - Doctrine Of Waste

A

Life tenant entitled to the ordinary uses and profits of the land but cannot do anything that injures the interests of a remainderman or revisioner.

Future interest holder may sue for damages or enjoin such acts and if she spends money to perform life tenants obligations she is entitled to reimbursement.

Voluntary waste
Permissive waste
Ameliorative waste

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8
Q

Voluntary waste - natural resources

A

Exploitation of natural resources by life tenant usually limited to situations when

P U R G E

  1. Prior Use, prior to grant land used to exploitation

Prior use & Open mines Doctrine: if mining was done on the land to life estate, life tenant can continue mining- but is limited to the mines already open.

  1. Reasonable Repairs & maintenance of land
  2. Grant: life tenant may exploit is expressly granted right to do so.
  3. Exploitation: The land is suitable only for exploitation
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9
Q

Permissive waste

A

Life tenant obligated to:

  1. Preserve the land and structures in a reasonable state of repair
  2. Pay interest on mortgages
  3. Pay ordinary taxes on the land
  4. Pay special assessments for public improvements of short duration

Permissive waste occurs when life tenant fails to do these things.

Life tenant not responsible for insuring the premises for the benefit of remainder men and isn’t responsible for third party tortfeasors.

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10
Q

Ameliorative Waste

A

Change that benefits property economically. Life tenant may alter or even demolish existing buildings if:

  1. The market value of the future interests is not diminished; and either
  2. The remaindermen do not object; or
  3. A substantial change in the neighborhood conditions has deprived the property in its current form of reasonable productivity or usefulness.
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11
Q

Future interests

A

Give holder the right or possibility of future possession of an estate.

Present legally protected right in property.

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12
Q

Possibility of Reverter

A

Fee simple determinable

“To A so long as alcohol isn’t used on the premises”

Estate automatically reverts to grantor upon occurrence of stated event

Transferable, descendible, devisable

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13
Q

Right of entry

A

Fee simple subject to condition subsequent

To A on condition that if alcohol is used on premises, O shall have right to re-enter and retake premises.

Estate does not revert automatically; grantor must exercise his right of entry.

Descendible and devisable, but some courts hold not transferable inter vivos.

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14
Q

Reversion

A

Estate left in grantor who conveys less than she owns.

O conveys “to A for life”; O has reversion.

Arises by operation of law; need not be expressly reserved.

Alienable, devisable, inheritable.

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15
Q

Remainders

A

Future interest in a third person that can become possessory on the natural expiration of the proceeding estate.

Remainders are either vested or contingent.

Cannot divest or cut short a prior estate.

Must be expressly created in the instrument creating the proceeding possessory estate.

“O coneys to A for life, then to B”; B has a remainder.

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16
Q

Contingent Remainders

A

A remainder is contingent if:

  1. It is created in an unascertained or unknown person or
  2. It is subject to an unmet condition precedent or both
17
Q

Contingent remainder created in unascertained or unknown person

A

“To A for life, the. To B’s first child.”

A is alive. B as yet has no children so his heirs are unknown.

18
Q

Contingent remainder b/c subject to an as yet unmet condition precedent

A

A condition is or cede the if it must be satisfied before the remainderman has a right to possession

O conveys “to A for life, the. To B if B married C.”

B’s remainder is contingent b/c he must marry C before he can take possession.

19
Q

Contingent remainder & merger doctrine

A

When one person acquires all of the present and future interests in land except a contingent remainder, under the common law, the contingent remainder is destroyed.

20
Q

Indefeasibly Vested Remainder

A

A vested remainder is one created in an existing and ascertained person, and not subject to a condition precedent.

Remainderman has a right to immediate possession upon normal termination of the proceeding estate. An indefeasibly vested remainder is a vested remainder that is not subject to divestment or diminution.

21
Q

Vested Remainder Subject to Open

A

There is a vested remainder created in a class of persons that is certain to become possessory, but is subject to diminution; by the birth of additional persons who will share in the remainder of the class.

O conveys “to A for life, then to the children of B.” A and B are living and B has one child, C. C had a vested remainder subject to open.

22
Q

Vested remainder subject to total divestment/complete defeasance

A

This is a vested remainder subject to a condition subsequent.

O conveys “to A for life, the. To B and his heirs; but if B does unmarried, then to C and his heirs.

B has a vested remainder subject to complete divestment by C’s executory Interest.

23
Q

Executory interests

A

Executory interests are future interests created in a transferee third party that either divests a transferee’s preceding freehold estate (“shifting interest”), or follows a gap in possession or cut short a grantor’s estate (springing interests)

24
Q

Springing executory Interest

A

A springing executory Interest cuya short the interest of O, the grantor.

In a grant from O “to A and his heirs when A marries B,”

A has a Springing executory Interest b/c it divests the grantor’s estate.

25
Q

Shifting executory Interest

A

Always follows a defensible fee and cuts short someone other than the grantor.

In a grant from O “to A for life, then to B; but if B predeceases A, the. To C,”

C has a Shifting executory Interest b/c it divests a transferee’s preceding estate.

26
Q

Class Gifts

A

A class is a group of persons having a common characteristic (children, nephews). The share of each member is determined by the number of persons in the class.

Class gift may be subject to open - where at least one group member exists

Class gift may be contingent- where all members are unascertained.

27
Q

When the class closes - rule of convenience

A

The class closes when any member can demand possession.

28
Q

Rule against perpetuities

A

No interest in property is valid unless unless it must best, if at all, not later than 21 years after some life in being (measuring life) at the creation of the interest. If there is any possibility that the interest might beat more than 21 years after a life in being, the interest is void.

29
Q

Rule of perpetuities applies to…

A
  1. Contingent remainders
  2. Executory interests
  3. Vested remainders subject to open
  4. Options to purchase
  5. Rights of fist refusal
  6. Powers of appointment
30
Q

RAP Four Steps

A
  1. Determines which future interests have been created by conveyance.
  2. Determine what has to happen for future holder to take.
  3. Look for people alive at the date of the conveyance whose lives and or deaths are relevant to what has to happen for the future interest holder to take. That person = measuring life.
  4. Determine whether we will know for sure within 21 years of death of measuring life if future interest holder can take. If so, conveyance good. If not, future interest void.
31
Q

Rule of perpetuities doesn’t apply to…

A

Indefeasibly vested remainders

Vested remainders subject to complete defeasance

Future interests created in grantor

32
Q

RAP executory Interest with no limit on the time within which it must vest…

A

Violates RAP

33
Q

Uniform Statutory RAP

A

Codifies common Law RAP, and in addition, provides for alternative 90 year beating period.

34
Q

Cy Pres

A

As near as possible

If a given disposition violates the rule, a court may reform it in a way that most closely matches the grantor’s intent while still complying with RAP.

35
Q

Rule against restraints on alienation

A

Generally any restriction on the transferability if a legal interest is void

36
Q

Types of restraints on alienation

A
  1. Disabling restraints, under which attempted transfers are ineffective
  2. Forfeiture restraints, under which an attempted transfer forfeits interest
  3. Promissory, under which an attempted transfer breaches a covenant
37
Q

Restraints on fee simple

A

All restraints on fee simple void

However forfeiture of promissory restraints on fee simple estates for a limited time and reasonable purpose may be upheld.

38
Q

Restraints on life estate

A

Forfeiture and promissory restraints on life estates are valid, but disabling restraints are void

39
Q

Restraints on future interests

A

Restraints on vested future interests generally valid to extent that restraints on present interests in same type are valid

Property (4 decks)

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