Midterm Deck (Estates & Future Interests) Flashcards
O conveys “to B and his heirs forever”
Type of Transfer?
Fee Simple
O devises “to C for life”
Type of Transfer?
Life Estate
O conveys “to D for ten years”
Type of Transfer?
Term of Years & O retains future rights
O devises “to E and her heirs provided that E marries”
Type of Transfer?
FSSCS
O conveys “to F, my pet cat”
Type of Transfer?
Cat is not a natural person so nothing is transferred
O conveys “to G for as long as G lives”
What are the estates and future interests created?
G receives an ordinary life estate & O receives a reversion
O conveys “to G for life.” G then conveys her estate to M
What are the estates and future interests created?
M has a pur autre vie life estate & lasts only as long as G lives;
if M dies first then M’s LE continues
O retains reversion which is possessory on G’s death
O conveys “to Google, Inc. for life”
What are the estates and future interests created?
O retains fee simple
A life estate cannot be created in favor of partnerships, corporations, or similar business entities b/c they have potentially infinite “lifetimes.” Google receives nothing from this conveyance.
O conveys “to B until he dies”
What are the estates and future interests created?
B=Life Estate
O=Reversion
O devises “to C for life, then to X”
What are the estates and future interests created?
C=Ordinary Life Estate
X=Future Interest:
Indefeasibly Vested Remainder in FSA
O’s heirs=remainder after X
possibly?
O conveys “to D for 200 years”
What are the estates and future interests created?
D=Terms of Years
O devises “to E for life, then to Z for life”
What are the estates and future interests created?
E=Life Estate after O dies
Z=Life Estate after E dies
O’s heirs=remainder after Z dies
O conveys “to F for life.”
F then conveys her interest “to Google, Inc”
What are the estates and future interests created?
F=Life Estate
Google=nothing b/c LE of F cannot be transferred to an entity
O=Reversion in FSA - ?
A life tenant decides to mine gold found on the land
Which type of waste is relevant?
Ameliorative & potentially voluntary
A life tenant decides to cut down the land’s valuable timber
Which type of waste is relevant?
Voluntary
A life tenant fails to maintain a historic structure
Which type of waste is relevant?
Permissive
A life tenant decides to demolish an aged, but functional gazebo in order to construct a modern pergola
Which type of waste is relevant?
I think the answer will depend -?
O conveys “to B and the heirs of his body”
What are the estates and future interests created?
B and heirs = Fee Tail
O= reversions - possessory when B’s lineal descendants expire
O devises “to C and her children”
What are the estates and future interests created?
Ambiguous so likely fee tail *Fee simple for C & Children at O’s death (fee tail not devisable)
????
O conveys “to D and the children of his body”
What are the estates and future interests created?
Fee Tail
O conveys “to E and heirs”
What are the estates and future interests created?
Likely Fee Tail (ambiguous)
Or is this Fee Simple b/c ambiguous???
Vegan V conveys his restaurant “to M so long as only vegetarian meals are sold on the premises, but if not then V may reenter and reclaim the premises.” M conveys the property to P. P offers drinks served with complimentary fish nuggets. P also offers wine that includes traces of beetle larvae. P offers to sell the restaurant to X.
Identify M’s estate
What advice would you give X?
M=Fee Simple Subject to Condition Subsequent
V=Right to Reentry
P= takes the type of estate that M holds
*questionable
O conveys “to B and his heirs so long as the land is not used as a nightclub”
Which transfers create a fee simple defeasible?
B=Fee Simple Determinable
O= FI in Transferor - automatically becomes possessory upon condition being met
O devises “to C and her heirs, but if Boston becomes a state then O’s heirs have the right to re-enter and retake the estate”
Which transfers create a fee simple defeasible?
C=FSSCS - Only when O dies
C’s heirs=FSSCS - upon C’s death
O’s Heirs=FI to heirs of transferor when/if condition met - only possessory if they take action