Lesson 2: Freehold Estates in Land Flashcards
Fee Simple Determinable
A fee simple estate, which will automatically end upon the occurrence of a specified event.
Fee Simple on Condition Subsequent
A fee simple estate which may end upon the occurrence of a specified event, at the grantor’s election.
Fee Simple Absolute
A fee simple absolute is the most unrestricted estate, and that of longest duration, known to Anglo-American law.
Fee Tail
An estate, which passes from the grantee to the grantee’s descendants.
Life Estate
An estate, which lasts for the duration of the lifetime of the grantee.
Life Estate pur autre vie
An estate which to lasts for the duration of the lifetime of a third person to the conveyance.
Vested Remainder
A future interest (1) held by a born ascertainable person; and (2) to which there is no condition other than the expiration of the preceding estate that must be met before the holder’s interest becomes a present possessory interest.
Contingent remainder
A contingent remainder is a future interest (1) which is either held by an unborn or unascertainable person; or (2) to which some condition must be met before the holder’s interest becomes a present possessory interest.