Life Estate Charts Flashcards
Fee Simple Absolute
PPI
Fee Simple Absolute
Language to Create
“To A”
“To A and her Heirs”
Future Interest in GRANTOR
NONE
Future Interest in THIRD PERSON
NONE
Fee Simple Determinable
PPI
Fee Simple Determinable
Language to Create - DURATIONAL (Also DEFEASIBLE) “So Long As” “While” “During” “Until”
Future Interest in GRANTOR
Possibility of Reverter
Future Interest in THIRD PERSON
NONE
Fee Simple Subject to a Condition Subsequent
PPI
Fee Simple Subject to a Condition Subsequent
Language to Create – DEFEASIBLE
“But if”
“on condition”
“provided that”
Future Interest in GRANTOR
Right of Entry / Power of Termination
Future Interest in THIRD PERSON
NONE
Fee Simple Subject to an Executory Limitation
PPI
Fee Simple Subject to an Executory Limitation
Language to Create - DEFEASIBLE
“until…then to….”
“but if…then to…”
Future Interest in GRANTOR
NONE
Future Interest in THIRD PERSON
Executory Interest
Fee Tail
PPI
Fee Tail
Language to Create – REVERSIONARY
“To A and the heirs of his body”
Future Interest in GRANTOR
Reversion
Future Interest in THIRD PERSON
Remainder
Life Estate
PPI
Life Estate
Language to Create - DURATIONAL
“To A for Life”
“To A for the Life of B”
Defeasible
O to A (Grantor)
Fee Simple Determinable (Possibility of Reverter - Automatic)
or
Fee Simple Subject to Condition Subsequent (Right of Entry - Option)
Defeasible
O to A (Third Party)
Fee Simple Subj to Executory Limitation
Springing Executory Interest
(Divests the GRANTOR or durational)
or
Shifting Executory Interest
(divests a TRANSFEREE)
Life Estate
O to A For Life
To Grantor (Reversion)
Life Estate Determinable (Possibility of Reverter - automatic)
or
Life Estate Subject to COndition Subsequent (Right of Entry - Option)
Life Estate
O to A For Life
To Third Party
Remainder
Shifting Executory Interests
Divests a grantee
– E.g., O to A, but if A does not graduate from law school,
to B.
Springing Executory Interests
Divests the grantor, or follows durational language
– E.g., O to A if A graduates from law school.
– E.g., O to X until A graduates from law school, then to A.