Future Interests

Question 1

Possibility of Reverter

Answer 1

Belongs to: transferor

Paired with: fee simple determinable

Question 2

Right of Entry

Answer 2

Belongs to: transferor

Paired with: fee simple subject to condition subsequent

Question 3

Reversion

Answer 3

Belongs to: transferor

Paired with: life estate

Question 4

Vested Remainder

Answer 4

A remainder is vested if it is created in an existing and ascertained person and not subject to a condition precedent. It can be indefeasibly vested, vested subject to total divestment, or vested subject to open.

Question 5

Contingent Remainder

Answer 5

A remainder is contingent if it is created in unborn or unascertained persons or it is subject to a condition precedent.

Question 6

Executory Interest

Question 7

Indefeasibly Vested

Answer 7

An indefeasibly vested remainder is not subject to divestment or diminution. The holder is certain to acquire the estate with no strings attached.

Question 8

Vested Subject to Total Divestment

Answer 8

A remainder that is vested subject to total divestment is one that is subject to a condition subsequent. The holder’s right to take is not at issue, but his right to possession could be cut short because of a condition subsequent.

Question 9

Vested Subject to Open

Answer 9

A remainder that is vested subject to open is one that is created in a class of persons that is certain to become possessory, but is subject to diminution. The class closes when some member of the class can call for distribution of their share. Anyone in gestation at the time the class closes is also part of the class.