Future possessory

Question 1

indefeasible interest

Answer 1

not subject to early termination

fee simple absolute (“To A and his heirs” or “To A”)
life estate (“to A for life” or “to A for the life of B”)

Question 2

defeasible interests

Answer 2

allows a fee simple or life estate to be terminated if a stated event occurs

Question 3

types of defeasible interests

Answer 3

-determinable (“for so long as,” “until,” “while,” “during”) - automatically reverts to the grantor
-subject to condition subsequent (“but if,” “upon condition that,” “provided that”) - subject to the grantor’s right of entry, which must be exercised
-subject to an executory interest (“to A for so long as…and if not…to B”, “to A, but if…to B”) - divests in favor of 3d party

Question 4

future possessory interests retained by the grantor

Answer 4

reversion - grantor transfers a shorter estate than she owes (grantor w fee simple transfers a life estate)
possibility of reverter - grantor transfers a determinable estate
power of entry (power of termination) - reserved on the grant of an estate subject to a condition subsequent

Question 5

diff between fee simple and life estate

Answer 5

The fee simple absolute is inheritable; the life estate is not.

Question 6

future possessory interests retained in a transferee

Answer 6

executory interests - cuts short the prior estate
remainders - possessory only on the natural termination of the prior estate (e.g., death of life tenant)
—Remainders are vested if made in an ascertained person and with conditions precedent; otherwise they are contingent
class gifts - remainders in class are contingent if no member of the class exists, vested if all possible members existed, and vested subject to open if some members might come to exist

Question 7

diff between remainder and exec interest

Answer 7

remainder does not follow defeasible fee so occurs naturally. exec interest cuts someone off