Estates in Land and Life Estates Flashcards
What are the instrumental ends of estates?
Land can be easily transferred, leads to alienability, system is governed by lawyers
Words of purchase
words grantor uses to designate the grantee (“To A”)
Words of Limitation
Describes the extent/quality/duration of the estate the grantee acquires (“and her heirs”, “for life”)
Livery of Seisen
Act of turning over possession before witnesses with a symbolic act (handing over clod of dirt)
Waste
A use of property in a manner that unreasonably interferes with the expectation of person B; designed to avoid uses of property that fail to maximize the property’s value
What are the three kinds of waste?
Affirmative Waste – liability results from intentional injurious acts that have more than trivial effect
Permissive Waste – negligence, failure to reasonably care for property
Ameliorative Waste – uses by tenant that increase rather than decrease value of land (irrelevant)
What happens if there are no vested remaindermen alive to take?
“Remainder to B and her heirs” and no heirs take, escheats to the state
Intestate
Dies without will
Heirs
Survivors of decedent designated under statute
What is the order of inheritance if T dies intestate?
Heirs (spouse)
Issue (Children)
Ancestors (Parents)
Collaterals (Siblings)
Escheats
What is the conveyance for a fee simple at common law and today?
To A and her heirs - CL
To A - Mod
What are the three kinds of fee simple subject to an executory interest?
- To A, then to B after 20 years
- To A so as long as premises are used for school purposes, then to B
- To A, but if it ceases to use the land for school purposes, B may take
What is a defeasible fee and what are the two subcategories?
Estate will terminate, prior to natural end point, on the occurrence of a future event
Fee Simple Determinable (FSD): Estate will terminate automatically when stated event happens
- “So long as…”
- “while used for…”
- “during the continuance of…”
- “until…”
Fee Simple Subject to Condition Subsequent (FSSCD): Estate will not terminate automatically, but may be cut short or divested at transferor’s election
- “but if…”
- “provided however, that when…”
- “on condition that if…”
What is a right of entry?
Future interest retained by the transferor, O when the present possessory interest is a fee simple subject to condition subsequent
Can be express or implied from the language of the instrument
What is a possibility of reverter?
The future possessory interest in O when A’s present possessory interest is a fee simple determinable
What are the possessory estate interests that at CL are not alienable?
Possibility of reverter, right of entry, contingent remainder
What happens if a life estate is transferred inter vivos?
It becomes a life estate pur autre vie
Which estate is not devisable (in the will) or descendable?
Life estates
What is a reversion?
Land will revert back to O at A’s death if A is life tenant; if O dies during A’s life, O’s reversion passes under his will or to his heirs
What are the two requirements for a contingent remainder?
Given to an unascertained person OR made contingent subject to condition precedent
What is an example of an unascertained contingent remainder?
To A for life, then to the heirs of B (B is alive)
What is an example of an contingent remainder created by a condition precedent?
To A for life, then to B and her heirs if B survives A
What is the format for an alternate contingent remainder?
If X happens A gets the property but if X does not happen, B gets the property
What are the requirements for a vested remainder?
Given to an ascertained person (not a living person’s heirs) AND
Not subject to a condition precedent
What are the three kinds of vested remainders?
Indefeasibly vested, vested subject to divestment, vested subject to open
What is an indefeasibly vested remainder?
Certain to become possessory in the future and cannot be divested
Ex. “To A for life, then to B and her heirs”
What is an vested remainder subject to divestment?
Vested BUT subject to a condition subsequent
Ex: “To A for life, then to B and her heirs, but if B does not survive A to C and his heirs”
What is a vested remainder subject to open?
Created in a class of persons where one member is ascertained
Ex. “To A for life, then to the A’s children and their heirs
What happens if a life tenant loses possession prior to the end of their life and the condition precedent is not satisfied or the person is not ascertained?
At CL, the contingent remainder would be destroyed and a reversion would be created in O
Today, this would create a fee simple subject to a springing executory interest in O
What are the five ways a life tenant can lose possession prior to their natural end and/or a contingent remainder can be destroyed?
Waste: Commits impermissible waste, or overt or willful acts of destruction
Merger: Whenever successive vested estates are owned by the same person, the larger of the two estates absorbs the smaller
Treason against the crown
Die at the same time: If there are alternate contingent remainders and both grantees die at the same time, the contingent remainders are destroyed
Disclaimer: If the grantee says they do not want it and the contingent remainder condition is not met, it is destroyed
