Interests in Land

Question 1

Remainder

Answer 1

1. Future Interest in Transferee
2. Created at the same time as a prior interest
3. Prior Interest is less than what the transferor had
4. Possession takes effect immediately upon termination of the prior estate

Question 2

Types of Vested Remainders

Answer 2

1. Indefeasibly Vested
2. Vested subject to complete defeasance
3. Vested subject to open

Question 3

Rule against Perpetuities

Answer 3

No interest is good unless it must vest, if at all, not later than 21 years after some life or lives in being at the creation of the interest

Question 4

Easement by Implication

Answer 4

(aka quasi-easement) Doesnt involve strict necessity.

Common grantor, prior use, continuous, obvious, permanent and must have reasonable necessity

Question 5

Easement by Necessity

Answer 5

Common grantor, a conveyance, and easement is strictly necessary (e.g., landlocked)

Question 6

Easement by Prescription

Answer 6

(Doesnt need common grantor)

Like adverse possession but doesn’t need exclusivity.

Question 7

License

Answer 7

Permission to make limited use of the land of another which is revocable at the will of the grantor (aka easement at will)

Question 8

Easement

Answer 8

A limited interest in the land of another which is not revocable by the owner of the burdened estate

Question 9

Rule of Convenience

Answer 9

A class is closed when the first distribution is made. An interest must qualilfy and be able to take for the class to close.

Question 10

When can a class close

Answer 10

1. Biologically

2. Under the Rule of Convenience