Future Interests Flashcards
1
Q
Future interest in the grantor
A
Reversion, possibility of reverter, and right of re-entry
2
Q
Reversion
A
Comes back to the grantor at the end of a life estate
3
Q
Possibility of reverter
A
Comes back after fee simple determinable to the grantor automatically
4
Q
Right re-entry
A
NOT AUTOMATIC
The grantor must come in and take when a fee simple subject to a condition subsequent is violated
5
Q
Future interest in a third party
A
Contingent remainder, vested remainder, executory interest
6
Q
Contingent remainder
A
Unascertained person+ there is an unsatisfied condition precedent
7
Q
Vested Remainder
A
Taker is ascertainable + no unsatisfied condition precedent
8
Q
Shifting Executory Interest
A
Takes away from a 3rd party vested grantee
9
Q
Springing Executory Interest
A
Takes away from the grantor
