Pg 4 Flashcards
Is it necessary that the third-party makes a reentry in order to get possession upon the stated event for a fee simple subject to executory limitation?
No, that person gets the right to immediate possession automatically once the stated event occurs
What are the two types of fee simple subject to executory limitation?
– Fee simple SUBJECT to an executory limitation: divestment that is limited by words of condition. I.e.: but if
– fee simple FOLLOWED by executory limitation: expiration that is limited by words of duration. I.e.: until
If O grants land to a school while the land is used as a school, and if it is not, the land is then granted to X and his heirs. What are the interests of those two parties?
– The school has a fee simple subject to executory limitation
– X has an executory interest
What are the two different ways that a fee simple subject to executory limitation can be created?
By either deed or will
If you convey or devise land to A and his heirs, but if he dies with no kids, then to B and his heirs. What type of fee is that?
Fee simple subject to executory limitation, because upon the stated event the land goes to a different party instead of reverting to the grantor
If you convey or devise land to A and his heirs, but if he dies with no kids, then to B and his heirs. What are the interests of each party?
– A has a present fee simple subject to shifting executory limitation. When he dies with no kids, his present fee simple automatically shifts from A to B
– B has an executory interest in fee simple
What is a present fee simple subject to a springing executory limitation?
The defeasance is automatic when the terminating event happens and the owner of the executory interest gets the fee simple without taking any affirmative action. Then the defeasible fee simple is considered divested or cut off
If you give land to A and his heirs, but only once he marries B, then what happens once A marries B?
It causes the present fee simple to spring out of the grantor and automatically vest in A
Is the terminating event in a fee simple subject to executory limitation usually certain to occur?
No, it is usually contingent. I.e.: the death of someone without surviving issue, on marriage, failure of an institution to stay in existence, etc.
What are the rules for a terminating event to be valid under any defeasible fee?
It must be legal, not against public policy, and not violate RAP
What happens if a limitation/stated event for a defeasible fee ends up being illegal or against public policy so that it becomes invalid?
The first taker gets a fee simple absolute instead
All estates fall into what two categories?
Either fee simple estates or particular estates
What is the difference between a fee simple estate and a particle estate?
– fee simple estates: fee simple absolute and all fee simple determinable estates. These all have the same quality of ownership
– particle states: fee tail, life estate, term of years, periodic tenancy, tenancy at will. These are just particles of a fee simple, so the particular estates are always accompanied by future interests because they are particles carved out of a greater fee simple
What is a fee tail?
This limits the land’s inheritability to a specific class of heirs. It transfers a fee interest to the grantee and the heirs of his body/lineal descendants, so it cannot be transferred to a non-relative. Ie: “A to B and the heirs of his body.“
This is only recognized at common law, but not in a majority of jurisdictions. Modernly it is presumed to create a fee simple absolute
If you see a fee tail, modernly what does that do?
It is presumed to create a fee simple absolute
