Present and Future Estates 2.0 Flashcards
“to A for life”
Life Estate
“to A as long as he/but if he/provided that he x”; if so/if not –> Grantee automatically
Fee Simple Determinable
“to A as long as he/but if he/provided that he x”; if so/if not –> Grantee can assert reverter
Subject to Condition Subsequent
“to A, but if he/as long as he/provided that, and if so/if not so –> B takes”
Subject to Executory Interest
Cuts short someone other than grantee
“to A, but if he/as long as he –> B
B has a shifting executory interest
Cuts short grantee
“mine, but if A graduates from college, A”
A has a springing executory interest
3rd party has a future interest once the estate’s prior ownership naturally expires
Remainder (general category)
Taker not yet known. “O conveys to A, then to heirs.”
Contingent Remainder
Gifted to a class that could increase/decrease. “To A’s children.”
Subject to Open
Condition that must be satisfied before 3rd Party takes. “To A for life, then if B graduates from college, B.”
Condition Precedent
Certain to acquire, no strings attached. “To A for life, then to B.”
Indefeasibly Vested Remainder
Right to possession can be cut short by later condition. “To A for life, then to B and heirs; but if B dies unmarried, C.”
Subject to Total Divestment
Difference between Precedent and Subsequent
Subsequent: A 3rd party is waiting like Gollum to spring in and take it.
Precedent: The grantee themself needs to do something to take it.
