Future Interests Flashcards
1
Q
Fee simple determinible
A
“so long as”
“for so long as”
2
Q
Possibility of Reverter
A
Always follows Fee Simple Determinible
3
Q
Remainders
A
ONLY follow LIFE ESTATES
4
Q
“…grantor may terminate the conveyance and retake the land.”
A
Fee simple subject to a condition subsequent.
You have to ACT to retake the land (bringing suit or making reentry).
5
Q
Rights of first refusal, options to purchase land are subject to a RAP anaylsis.
A
TRUE
If granted to just one person, it would be allowed. There is NO RAP problem. The ROFR is valid.
But if granted to person AND THEIR HEIRS AND/OR ASSIGNS, then the answer is the RAP.
ROFR does NOT violate alienation for joint tenancies with right of survivorships.
