Future Interests 101

Question 1

Fee Simple Absolute (FSA)

Answer 1

• “To A” “To A and her heirs”
• No associated FI
• freely descendible, devisable, alienable

Question 2

Fee Tail

Answer 2

• “To A and the heirs of his body”
• converts to a FSA now
• FI: rev (O), rem (3rd party)

Question 3

Life Estate

Answer 3

• “To A for life” “To A for the life of B”
• FI: reversion (O), remainder (3rd party)
• no waste allowed (affirmative, permissive, ameliorative)

Question 4

Fee Simple Determinable (FS D)

Answer 4

• “To A so long as” “To A during”
• conditional language
• ends automatically if condition is broken
• FI: possibility of reverter in O

Question 5

Fee Simple Subject to Condition Subsequent (FS Subj. to CS)

Answer 5

• “to A but if X event occurs, grantor reserves right to reenter and retake”
• FI: right of entry
• does not auto terminate, but can be terminated if the O wants

Question 6

Fee Simple Subject to Executory Limitations (FS Subj. to EL)

Answer 6

• “to A, but if X event occurs, then to B”
• if condition is breached = auto forfeit to stated person
• FI: Shifting Executory Interest

Question 7

Are the three defeasibles: alienable/devisable/descendible?

Answer 7

Yes, subject to the condition.

Question 8

Vested Remainder

Answer 8

• ascertained person
• Indefeasibly VR: will definitely acquire in future (no condition attached)
• VR Subject to Total Divestment (holder exists, not subject to condition precedent)
• VR Subject to Open (open class)

Question 9

Contingent Remainder

Answer 9

• unascertained/unknown person
• subject to condition precedent (you have to meet the condition)
• “To A for life, then if B graduates, to B”

Question 10

Executory Interest

Answer 10

• shifting: cuts short another transferee
• • “To A and heirs, but if B returns to IL, to B”
• springing: cuts short grantor
• • “To A, if and when he marries”

Question 11

Reversion

Answer 11

when grantor transfer an estate of less than original