Future Interests

Question 1

Rule of Shelley’s case

Answer 1

Abolished in Ohio

Question 2

Transferability of Future Interests

Answer 2

Ohio permits remainder interests to be transferred.

Remainders, executory interest, and other expectant estates are descendible, devisable, and alienable in the same manner as estates in possession.

Question 3

Rule Against Perpetuities

Answer 3

Any interest that would violate the RAP will be reformed with Rule’s limits to try to conform most closely to the creator’s intention, I.e. To save the interest.

• Ohio will wait for the 21-year period to lapse to determine whether the Rule is actually violated.
• if at the time the grant does violate the Rule, Ohio will reform the grant, if possible, rather than striking it completely.

Question 4

Tenancy by Entirety

Answer 4

In 1972- Ohio enacted a statute permitting the creation of tenancy by the entirety by married persons.

• April 4, 1985 amended to eliminate such tenancies.
• courts recognize TIE created before 4-4-85

Question 5

Survivorship tenancy

Answer 5

Instead of TIE or JT Ohio uses the term “survivorship tenancy” to create tenancies with rights of survivorship in two or more parties by statute

Question 6

Creditors of survivorship

Answer 6

May enforce a lien against one or more of the survivorship tenants.

• a valid lien against a survivorship tenant, the survivorship tenancy is destroyed and becomes a TIC.

Question 7

Survivorship tenants payment of taxes & profits

Answer 7

Can request contribution for the payment of property taxes from the other ST.

•entitled to share profits from rents collected.

Question 8

Transfer of ST interest

Answer 8

Does not impact remaining St interest.