Ownership (Present, Future, Concurrent)

Question 1

Ambiguous conveyances

Answer 1

Considered a fee simple unless

1) the conveyance is expressly limited OR
2) a lessor estate is created

Question 2

creating a life estate

Answer 2

-no particular words necessary to create a life estate, but must suggest a lifetime grant

Question 3

Joint Tenancy

Answer 3

-unlike most states, a JT in TX does not automatically include a right of survivorship. Instead, JT can create it by expressly agreeing to allow their interests to pass under a right of survivorship

Question 4

tenancy by the entirety

Answer 4

Because it is a CP state, TX DOES NOT recognize the tenancy by the entirety

Question 5

Possibility of reverter

Answer 5

• TX DOES NOT have a statute that limits the duration of the possibility of reverter
• is NOT subject to RAP (can go on forever)

Question 6

right of entry

Answer 6

• TX does NOT have a statute that limits the duration of the right of reentry.
• Right of reentry is not subject to RAP (no time limit)

Question 7

Contigent remainder

Answer 7

• No destroyed if it has not vested by the time the prior estate terminates
• TX will wait to see if the contingent remainder ultimately vests

Question 8

TX doesn’t follow

Answer 8

• Rule in Shelley’s case
• Doctrine of Worthier title
• Contingent remainders

Question 9

RAP

Answer 9

• prop held in trust IS subject to RAP
• in TX, perpetual trusts and indefinite period trusts violate RAP
• RAP DOES NOT apply to charitable trusts

Question 10

Cy pres

Answer 10

-courts use cy pres to reform a charitable trust when its particular purpose has become impossible or impractical