Possessory Estates

Question 1

Estate

Answer 1

Think about the land as having an existence

Question 2

Fee simple absolute

Answer 2

Estate in land may last forever

Question 3

Fee simple future estate

Answer 3

Does not exist, no reversion

Question 4

Fee simple determinative

Answer 4

“So long as…” ends automatically when the stated event happens

Question 5

Possibility of reverter

Answer 5

Future interest for a fee simple determinative, property goes back to the original owner

Question 6

Executory interest

Answer 6

Future interest for a fee simple determinative, property is passed to a transferee

Question 7

Fee simple subject to condition subsequent

Answer 7

Does not automatically terminate but may be cut short at the time of the transferor’s choice when a stated condition happens - affirmative action is needed

Question 8

Right of entry

Answer 8

Future interest for a fee simple subject to condition subsequent, property goes back to the original owner

Question 9

Executory interest

Answer 9

Future interest for a fee simple subject to condition subsequent, the property passes to the transferee

Question 10

Life estate

Answer 10

Estate in land for the life of a person

Question 11

Reversion

Answer 11

Future interest for a life estate and term of years - property goes to a transferor

Question 12

Remainder

Answer 12

Future interest for a life estate and term of years - property goes to a transferee

Question 13

Per autre vie

Answer 13

For the rest of the life of another

Question 14

Term of years

Answer 14

Estate in land for some period of time that is measured by a calendar

Question 15

Fee tail specifics

Answer 15

Can be created only in 3 or 4 states and can be destroyed

Question 16

Fee tail

Answer 16

Property descends to lineal descendants generation after generation and expires when the original tenant in fee tail and ALL descendants are dead