Future Estates

Question 1

Possibility of Reverter

Answer 1

if condition occurs, grantee’s interest is AUTOMATICALLY TERMINATED and vests in the grantor

Question 2

Right of Re-entry

Answer 2

upon the occurrence of a specified condition, the grantor MAY re-enter and take the property; right must be exercises to terminate the interest

Question 3

Vested Remainder

Answer 3

a future interest in land given to an IDENTIFIABLE PERSON WITH NO CONDITIONS

Question 4

Contingent Remainder

Answer 4

future interest in land conditioned upon the occurrence or non-occurrence of a specific event

Question 5

Remainderman

Answer 5

upon the life-tenant’s death, ownership of the property transfers to a specified person