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Bar prep - property > Present estates > Flashcards

Present estates Flashcards

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1
Q

4 categories of freehold estates

A

fee simple absolute, fee tail, defeasible fees (3 kinds), life estate

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2
Q

3 things to know re: freehold estates for exam

A
  1. What language creates the estate?
  2. What are the estate’s distinguishing characteristics? (devisable, descendible, alienable
  3. Which future interests (if any) is the estate capable of?
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3
Q

devisable

A

able to pass to heirs by will

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4
Q

descendible

A

able to pass to heirs by intestacy

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5
Q

alienable

A

able to transfer inter vivos (during holder’s lifetime)

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6
Q

fee simple absolute

A
  1. To A (and his heirs)
  2. absolute ownership of potentially infinite duration. d/d/a
  3. No future interest
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7
Q

fee tail (rarely tested)

A
  1. To A and the heirs of his body
  2. Historically, would pass directly to grantee’s lineal blood descendants. Today, attempted creation of fee tail creates instead FSA
  3. Historically, creates reversion for grantor, remainder for 3rd pty
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8
Q

defeasible fees

A
  1. 3 fee simples with a catch
  2. Fee simple subject to threat of forfeiture
  3. defeasible - forfeiture
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9
Q

defeasible fee - fee simple determinable (FSD)

A
  1. To A for so long as…; To A during …; To A unti …
    Grantor must use CLEAR DURATIONAL language
  2. d/d/a SUBJECT TO the condition
    If stated condition is violated, then forfeiture is automatic for grantor
  3. possibility of reverter (POR) for grantor
    FSDPOR
    Frank Sinatra Didn’t Prefer Orville Redenbacher
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10
Q

defeasible fee - fee simple subject to condition subsequent (FS SCS)

A
  1. To A, but if X event occurs, grantor reserves the right to re-enter and retake
    Grantor must use CLEAR DURATIONAL language AND statement of re-entry
  2. d/d/a SUBJECT TO the condition
    If stated condition is violated, forfeiture is NOT automatic but it can be cut short at grantor’s option
  3. Right of entry (power of termination) for grantor
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11
Q

defeasible fee - fee simple subject to executory limitation (FS SEL)

A
  1. To A, but if X event occurs, then to B
  2. d/d/a SUBJECT TO the condition
    If the stated condition is violated, forfeiture is automatic in favor of 3rd party (not grantor)
  3. Shifting executory interest for 3rd pty
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12
Q

2 important rules of construction re: defeasible fees

A
  1. Words of mere desire, hope, or intention are INSUFFICIENT to create a defeasible fee.
  2. Absolute restraints on alienation are void
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13
Q

Rules of construction re: defeasible fees

Words of mere desire, hope, or intention are INSUFFICIENT to create a defeasible fee

A
  1. Courts will not find a defeasible fee UNLESS clear durational language is used.
  2. Courts disfavor restrictions on free land use
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14
Q

Rules of construction re: defeasible fees

Absolute restraints on alienation are void

A

An absolute restraint on alienation is an absolute ban on the power to sell or transfer that is NOT linked to a reasonable, time limited purpose.

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15
Q

life estate

A
  1. To A for life
    life estate is measured by A’s life
  2. d/d/a if measuring life is still alive
  3. reversion for grantor, remainder for 3rd pty
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16
Q

life estate pur autre vie

A
  1. To A for the life of B
    life estate is measured by a life other than grantee’s
  2. d/d/a if measuring life is still alive
  3. reversion for grantor, remainder for 3rd pty
17
Q

life estate - unique issues and terms

A

Life estate is an estate that MUST be measured in explicit lifetime terms and never in terms of years.
A is known as the life tenant

18
Q

life estate - distinguishing characteristics

A

Life tenant’s entitlements are rooted in the doctrine of waste - 2 general rules

  1. The life tenant is entitled to all ordinary uses and profits from the land
  2. The life tenant must not commit waste
19
Q

life estate

3 species of waste

A
  1. voluntary or affirmative waste
  2. permissive waste (neglect)
  3. ameliorative waste
20
Q

life estate

3 species of waste - voluntary or affirmative waste

A

Life tenant must not consume or exploit natural resources on the property (i.e. timber, oil, minerals) UNLESS 1 of 4 exceptions apply (PURGE)
Prior Use, Repairs, Grant, Exploitation

21
Q

life estate
3 species of waste - voluntary or affirmative waste
PURGE - Prior Use

A

Prior Use - prior to the grant, land was used to exploit. Life tenant may continue to exploit unless otherwise agreed.

22
Q

life estate
3 species of waste - voluntary or affirmative waste
PURGE - Prior Use
Open Mines doctrine

A

Open mines doctrine: If mining was done on the land before the life estate began, life tenant may continue to mine, but is limited to mines already open.
(Life tenant must not open any new mines.)

23
Q

life estate
3 species of waste - voluntary or affirmative waste
PURGE - Repairs

A

Repairs - Life tenant may consume natural resources for repairs and maintenance

24
Q

life estate
3 species of waste - voluntary or affirmative waste
PURGE - Grant

A

Grant - Life tenant may exploit if granted that right

25
Q

life estate
3 species of waste - voluntary or affirmative waste
PURGE - Exploitation

A

Exploitation - Land is suitable only to exploit.

26
Q

life estate

3 species of waste - permissive waste (neglect)

A

When land falls into disrepair.
Obligation to repair: Life tenant must simply maintain the premises in reasonably good repair. (modest obligation)
Obligation to pay all ordinary taxes: Life tenant is obligated to pay all ordinary taxes on the land to the extent of income or profits from the land. If there is no income or profit, the life tenant is required to pay all ordinary taxes to the extent of premises fair rental value.

27
Q

life estate

3 species of waste - ameliorative waste

A

Honors sentimental value
Life tenant must not engage in acts that will enhance the property’s value unless ALL FUTURE INTEREST HOLDERS are 1) known and 2) consent

Bar prep - property (11 decks)

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