Present and Future Estates Flashcards
O to A
fee simple absolute
O to A and her heirs
fee simple absolute
O to A for life
life estate OR life estate with a reversion
O to A for life, but if (x), then to B.
life estate with an executory interest
O to A for life, then to B.
life estate with an indefeasibly vested remainder
O to A so long as (x).
fee simple determinable with possibility of reverter
O to A, but if (x), O has right to retake.
fee simple subject to condition subsequent with right of entry
O to A, but if (x), then to B.
fee simple subject to a shifting executory interest
O to A if (x).
fee simple subject to a springing executory interest
O to A for life, then, if B graduates, to B.
life estate with a contingent remainder
O to A for life, then to B’s 1st child (no kids yet).
life estate with a contingent remainder
O to A for life, then to B’s children.
life estate with a vested remainder subject to open
O to A for life, then to B, provided however, that if (x), then to C.
life estate with a vested remainder subject to divestment (complete defeasance)
What are the three kinds of present interests?
Life estates, fee simple absolutes, and defeasable fee simples
What are the 3 kinds of defeasable fee simple estates?
Fee simple determinable, fee simple subject to condition subsequent, fee simple subject to executory interests.
What are the 2 kinds of fee simple subject to executory interest estates?
springing and shifting executory interests
A plain life estate always includes what future interest?
reversion
What are the 3 kinds of future estates that stem from life estates?
reversion, executory interest, remainder
A fee simple determinable always includes what kind of future estate?
possibility of a reverter
A fee simple subject to condition subsequent always includes what kind of future estate?
right of entry
A springing executory interest cuts off whose interest?
the grantor’s interest
A shifting executory interest cuts off whose interest?
someone other than grantor
Which present estate requires ‘durational’ language such as “so long as, during, until…etc”?
fee simple determinable
Which future estate requires either a condition precedent OR an unascertainable taker?
life estate with a contingent remainder
Which future estate requires an ascertainable taker with no conditions added?
life estate with an indefeasible vested remainder
Which future estate includes a class of potentially unknown people?
life estate with a vested remainder subject to open
for a life estate with a vested remainder subject to open, when does the members of the class become official?
At the death of the present estate holder
What is the only future estate that has a condition subsequent?
life estate with a vested remainder subject to divestment (complete defeasance).
What are the 4 kinds of estates that stem from life estates with a remainder?
life estate with a remainder with:
contingent remainder
indefeasibly vested remainder
vested remainder subject to open
vested remainder subject to divestment
Which fee simple automatically reverts, and which provides a power to terminate but not automatic?
determinable (auto)
subject to condition subsequent (power)
What is the only kind of fee simple that includes 3rd parties?
fee simple subject to executory interest
