Freehold Estates Flashcards
“To A and his heirs”, “to A”
Fee simple absolute. Devisable, descendable, alienable.
“To A and his heirs”
Lasts as long as there are blood descendants of grantee. Grantor holds a reversion, a third party holds a remainder.
Types of defeasible fees
Fee simple determinable - have a length of time attached, fee simple subject to condition subsequent, fee simple subject to an executory limitation
“To a so long as”, “To A until”, “To A while”
Fee simple determinable, infinite so long as event doesn’t occur. Grantor holds a possibility of reverter.
“To A, but if X event occurs, grantor reserves the right to reenter and retake.”
Fee simple subject to condition subsequent. Grantor holds a right to re-enter and retake.
“To A, but if X event occurs, then to B.”
Fee simple subject to an executory limitation. Third party holds an executory interest.
Possibility of reverter
Only accompanies fee simple determinable
Who accompanies a preceding estate of known, fixed duration (a life estate or a term of years)?
A remainderman
Who never follows a defeasible fee?
A remainderman
Who MUST follow a defeasible fee?
An executory interest (or O)
Joint tenancy
2 or more own with the right of survivorship. When a joint tenant dies, his share goes automatically to the other joint tenants. A joint tenant’s interest is alienable, but not devisable or descendable. Remember T-TIP: same time, same title, identical shares, right to possess the whole.
Tenancy by the entirety
a marital interest between spouses with the right of survivorship
Tenancy in common
2 or more own with no right of survivorship
How do you sever a joint tenancy?
SPAM: sale, partition, mortgage
Mortgages & tenancy by entirety
Can’t touch this: no unilateral transfers; if one spouse mortages or credits, nothing can happen to the other’s share.
Which type of tenancy is it where each interest is divisible, descendable, and alienable?
Tenancy in common
Tenancy for years
a lease for a fixed period of time; when you know the termination date from the start; doesn’t need notice for termination
Periodic tenancy
a lease that continues for successive intervals until L or T gives proper notice to terminate
What does an oral term of years in violation of the SOF create?
an implied periodic tenancy measured by the way rent is tendered