Estates property

Question 1

Estates; definitons, What is a Testator/Testatrix?

Answer 1

A:
(1) Dead person
(2) With a will who
(3) Devises land to
(4) a Devisee

Question 2

Estates; definitons, What is a Grantee?

Answer 2

One who gets land
(1) conveyed or granted to them
(2) by an alive person called
(3) a grantor

Question 3

Estates; definitons, What does it mean to descend land?

Answer 3

When:
(1) A dead person
(2) Gives land to
(3) their Heir
(4) By Intestate succession

Question 4

Estates; definitons, What is Intestate succession?

Answer 4

When someone
(1) Without a will
(2) Dies and
(3) Descends property
(4) according to state statutes

Question 5

Estates; definitons, What are Words of purchase

Answer 5

Word which designate who gets the estate

Question 6

Estates; definitons, What are words of limitation

Answer 6

Words that designate the type of estate

Question 7

Estates; definitons, What does it mean for a property interests to be alienable, devisable, and/or inheritable

Answer 7

(1) Alienable: Giftable or sellable
(2) Devisable: to give through a will
(3) Inheretable: To give through Intestate succession

Question 8

What are the four Estate Rules of interpretation?

Answer 8

Interpret in ways:
(1) give effect to the intent of the grantor
(2) Does not create a new type of estate
(3) reduces the likelihood of forfeiture by current owner
(4) only reasonably restrains alienation

Question 9

What is a fee tail?

Answer 9

Makes an estate for someone and their bloodline

Question 9

Estates; Presumptions/rules of interpretation; Waste, When is the Doctrine of Waste used?

Answer 9

(1) Where there is a land dispute and;
(2) That dispute is between a person in possession of land and another holding a future interest

Question 10

What are the kinds of waste doctrines?

Answer 10

(1) Voluntary
(2) Permissive
(3) Amelioritive (though not typically recognized)

Question 11

What is voluntary waste?

Answer 11

(1) Waste that occurs because of
(2) an affirmative act
(3) that significantly reduces the value of the property

Question 12

What is a defeasible estate?

Answer 12

An estate that can be defeated

Question 13

Estates; language, What words create a Fee Tail?

Answer 13

(1) “to Q and the heirs of his body”

Question 14

Estates; language, To create a Fee Simple Determinable, who must hold the future interest, and what language are used?

Answer 14

(1) The transferor must hold the future interest,
and there must be words of duration such as:
(2) So long as
(3) While
(4) During
or;
(5) Until

Question 15

Estates; language, To create a Fee simple subject to an executory limitation, who hold the future interest and what words are used?

Answer 15

(1) A transferee((2) Third Party) must hold the future interest and either,
(3) Words of duration, as in an FSD
or;
(4) Words of condition, as in a FSSCS
Will create a FSSEL

Question 15

Estates; language, To create a Fee simple subject to a condition subsequent, who must hold the future interest and what words are used?

Answer 15

(1)The transferor must hold the future interest and,
words of condition such as:
(2) Provided that
(3) but if
or;
(4) on condition
Will create a FSSCS

Question 16

What is a right of entry? What rights does a transforer have with one of these?

Answer 16

A future interest retained by a transferer when they
(1) hold a fee simple absolute
and
(2) convey a fee simple subject to a condition subsequent

(3) which becomes possessory only on ‘affirmative steps’ taken to regain possession.