Estates in Land and Future Interests

Question 1

Present Estates:

Answer 1

1. Fee Simple Absolute
2. Defeasible Fees (Fee Simple Determinable, Fee Simple Subject to Condition Subsequent, Fee Simple Subject to Executory Limitation)
3. Fee Tail
4. Life Estate (& Life Estate Subject to Executory Limitation)

Question 2

Fee Simple Absolute:

Answer 2

O to A; freely alienable, descendible, and devisable. Has no accompanying future interest.

Question 3

Fee Simple Determinable:

Answer 3

O to A and his heirs, until A gets marries.
Present fee simple estate that is limited by specific durational language (so long as, while, during, until) such that it terminates automatically upon the happening of a stated condition, and full ownership of the property is returned to the grantor.
Freely alienable, devisable, and descendible, but always subject to the stated condition
The grantor’s retained future interest is possibility of reverter.

Question 4

Fee Simple Subject to Condition Subsequent:

Answer 4

O to B and his heirs, but if B gets married, then A can reenter.
Present fee simple that is limited in duration by specific conditional language (provided that, on condition that, but if).
Freely alienable, devisable, and descendible.
Unlike fee simple determinable, termination of a fee simple subject to a condition subsequent is not automatic.
Upon occurrence of the stated condition, the present fee simple will terminate only if the grantor affirmatively demonstrates intent to terminate (e.g. by bringing an action to recover possession).
In the conveyance, the grantor must explicitly retain the right to terminate the fee simple subject to a condition subsequent (known as the right of entry, right of reentry, or the power of termination).

Question 5

Fee Simple Subject to Executory Limitation

Answer 5

O to A for as long as the property is used as a hospital, then to B.
Present fee simple estate that is limited in duration by either conditional language or durational language, such that it will terminate upon the occurrence of the specified condition, and title will pass to a third party (someone other than the grantor).
Upon occurrence of the stated condition, the present fee simple terminates automatically.
The future interest held by the third party is an executory interest.

Question 6

Life Estate:

Answer 6

O to A for life.
Present possessory estate that is limited in duration by a life.
Upon the end of the measuring life, title reverts to the grantor or specified remainderman.
This future interest is known as “reversion” if back to O, or “remainder” if back to 3rd party.
Life tenant must not commit waste.
Alienable, devisable and descendible if pur autre vie and measuring life is still alive.

Question 7

Reversion:

Answer 7

Future interest that arises in a grantor who transfers an estate of lesser magnitude than she started w/ (leftover). When the grantor has transferred less than everything that she has, other than a fee simple determinable or a fee simple subject to condition subsequent.

Question 8

Remainder:

Answer 8

Future interest held by someone other than the grantor.
Remainder wait to take until the preceding, present estate comes to its natural end.
A remainder never follows a defeasible fee.

Question 9

Vested Remainder Types:

Answer 9

1. Indefeasibly Vested Remainder
2. Vested Remainder Subject to Open
3. Vested Remainder Subject to Complete Divestment

Question 10

Vested Remainder:

Answer 10

An interest that is not subject to any conditions precedent and is created in an ascertainable grantee.
Fully alienable, descendible, devisable.

Question 11

Indefeasibly Vested Remainder:

Answer 11

The holder of this remainder is certain to acquire an estate in the future w/ no conditions or strings attached.
Ex: O to A for life, remainder to B.

Question 12

Vested Remainder Subject to Open:

Answer 12

Here, the remainder is vested in a group, category, or class of takers, at least one of who is qualified to take possession. 
The property interest is uncertain/open because other grantees may become vested and able to share in the grant.
Ex: A to B for life, and then to C’s children.

Question 13

Vested Remainder Subject to Complete Divestment:

Answer 13

When the occurrence of a condition subsequent will completely divest (deprives) the remainder interest.
Ex: O to A for life, remainder to B, but if B dies under the age of 25.

Question 14

Contingent Remainder:

Answer 14

Created in a grantee that is unascertainable, or if it is subject to an express condition precedent to a grantee’s taking.
Ex: A to B for life, remainder to C’s heirs
Ex: To A for life, then, if B graduates from college, to B
Alienable, devisable, and descendible

Question 15

Executory Interest & Types:

Answer 15

A future interest in a third party that is not a remainder and that cuts the prior estate short upon the occurrence of a specified condition.
1. Shifting
2. Springing
Alienable, devisable, descendible

Question 16

Shifting Executory Interest:

Answer 16

Divests the interest of the grantee by cutting short a prior estate; the estate shifts from one grantee to another on the happening of the condition.
Ex: A to B and his heirs, but if C returns from Paris, then to C.

Question 17

Springing Executory Interest:

Answer 17

Divests (deprives) the interest of the grantor.

Ex: O to A, if and when he marries.

Question 18

The Rule Against Perpetuities:

Answer 18

Under the rule, specific future interests are valid only if they must vest or fail by the death of the measuring life, plus 21 years.