Future Interests Flashcards
Three types of future interests for the grantor:
Possibility of reverter (goes with FSD)
Right if entry/power of termination (goes with FSSCS)
Reversion (goes with estate of lesser duration than those above)
Contingent remainder is when 1) ___ or 2) ____.
It’s created in unborn or unascertainable persons
It’s subject to a condition precedent
OR BOTH
Abolished common law doctrines (that will be WRONG ANSWERS):
Destructibility of contingent remainders
Rule in Shelley’s case
Doctrine of worthier title
Vested remainders are those created in an _______ and is not ______.
Existing and ascertained person
Not subject to a condition precedent
Indefensibly vested remainders are those that the remainderwomen are ___.
Certain to acquire
Remainders vested subject to complete defeasance are those that are _____.
Subject to a condition subsequent
Vested remainders subject to open: this relates to a _____ and is subject to ____.
Class of takers; diminution
When does a class close? To figure out, apply the ____, which means that ___.
Rule of convenience; the class closes when any member can call for distribution
Executory interests have the effect of _____ the prior taker’s interest.
Cutting short
Shifting executory interests always follow a _____.
Defeasible fee
Shifting executory interests cuts short someone _____.
Other than the grantor
Springing executory interest cuts short the interest of ____.
The grantor
