Future Interest

Question 1

Contingent remainder

Question 2

Vested remainder

Answer 2

(1) the indefeasibly
vested remainder, (2) the vested remainder subject
to complete defeasance (also known as the vested remainder
subject to total divestment), and (3) the vested remainder subject
to open, OR
* An executory interest (of which there are two types: (1) the shifting
executory interest, and (2) the springing executory interes

Question 3

Contingent Remainder

Answer 3

A remainder is contingent if: (1) it’s created in unborn or unascertained
persons, or (2) it’s subject to a condition precedent, or both.
In other words, a remainder may be contingent as to person or as to
event

Question 4

Subject to Condition Precedent

Answer 4

A condition is precedent if it must be satisfied before the remainderman
has a right to possession. Look for the condition to appear
before the language creating the remainder or for it to be woven
into the grant to the remainderman.

Question 5

Indefeasibly Vested Remainder

Answer 5

An indefeasibly vested remainder is a vested remainder that is not
subject to divestment or diminution. The holder of this remainder is
certain to acquire an estate in the future, with no strings or conditions
attached.

Question 6

Vested Remainder Subject to Total Divestment

Answer 6

This is a vested remainder that is subject to a condition subsequent.
It is also known as a vested remainder subject to complete defeasance.
Here, the remainderman exists. His taking is not subject to any
condition precedent.

Question 7

Vested Remainder Subject to Open

Answer 7

This is a vested remainder created in a class of persons (for example,
“children”) that is certain to become possessory, but is subject to
diminution—for example, by the birth of additional persons who will
share in the remainder as a class. In other words, we have a group
of persons, at least one of whom is qualified to take possession, but
each group member’s share could get smaller because additional
takers, not yet ascertained, may still join the

Question 8

Shifting Executory Interest

Answer 8

A shifting executory interest always follows a defeasible fee and
cuts short someone other than the grantor.

Question 9

Springing Executory Interest

Answer 9

A springing executory interest cuts short the interest of O, the
grantor.