Estates in Land Flashcards
Fee Simple Absolute
Unlimited estate including all rights;
can be devised or alienated; can last indefinitely
Life Estate
Lasts for duration of measuring lifetime; leaves
a future interest; can be measured by holder’s life or the life of another
Fee Simple Determinable
A present fee interest that is capable of being indefinite, but may be cut short because it is limited by specific durational language
Magic words: “So long as,” “While,” or “During which time”
Fee Simple Subject to Condition Subsequent
A present fee interest that is capable of being indefinite, but may be cut short because it is limited by specific conditional language
Magic words: “But if,” “On the condition that,” or “Provided that”
Fee Simple Subject to Executory Limitation
A present fee interest that is capable of being indefinite, but may be cut short by a future interest held by a third party
(1) third-party holds the future interest,
and (2) divests automatically
Executory Interests
Future interest held by a third party
and divesting a Fee Simple Subject to Executory Limitation
Shifting Executory Interest
Grantee divests another grantee
Springing Executory Interests
Grantee divests the grantor
Reversion
Future interest held by the grantor; always
vested; follows natural expiration of a lesser estate
Remainder
Three types, but always held by a grantee
after natural expiration of prior estate
Vested
Taker is ascertained and no conditions precedent
apply
Contingent
Remainder in unascertained party or subject
to condition precedent
Vested Subject to Open
Class gift where at least one member is vested
What does the RAP apply to?
Contingent Remainders, Vested Remainders Subject to Open, & Executory Interests
