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Present Estates Flashcards

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1
Q

what are the 4 present estates

A

1) fee simple absolute
2) fee tail
3) defeasible fees (3 species)
4) life estate

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2
Q

what does land that is devisable mean

A

it can pass by will

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3
Q

what does land that is descendible mean

A

it will pass by statutes of intestacy

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4
Q

what land that is alienable mean?

A

inter-vivos gift

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5
Q

are CL words “to a and his heirs” needed today for FSA

A

NO

- To A alone is enouhg

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6
Q

what does FSA mean?

A

absolute potentially infinite duration

1) freely divisible
2) descendible and
3) alienable

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7
Q

if stated FSA to A and A’s heirs. What does A’s heirs have?

A

NOTHING

- only A has FSA

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8
Q

does a living person have heirs

A

NO. A living person only has prospective heirs

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9
Q

what a fee tail language

A

To A and the heirs of his body

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10
Q

has the fee tail been abolished

A

yes.

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11
Q

what does creating a fee tail do?

A

creates FSA

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12
Q

what does creating fee tail in IL do?

A

creates LIFE ESTATE in A and remainder in A’s lineal blood descendants

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13
Q

what are the 3 defeasible fees

A

1) fee simple determinable
2) fee simple subject to condition subsequent
3) fee simple subject to executory limitation

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14
Q

how to create fee simple determinable language

A

To A for so long as…
To A during…
To A until…

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15
Q

does the grantor need to use clear durational language to create fee simple determinable

A

YES

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16
Q

what happens if the stated condition of a fee simple determinable is violated

A

AUTOMATICALLY forfeiture

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17
Q

what are the distinguishing characteristics of a fee simple determinable

A

estate like all of the defeasible fees are

1) devisible
2) descndible and
3) alienable but always subject to condition

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18
Q

can a person grant more than what they have

A

NO nemo dat.
- You may convey less than what you started with, but you cannot convey more, in other words “you cant always get what you want

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19
Q

what does the grantor obtain with a fee simple determinable

A

POSSIBILITY OF REVETER (automatic)

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20
Q

what is the acrnoym to know for fee simple determinable (FSDPOR)

A

frank sinatra didnt prefer orville redenbacher

  • Fee simple determinable
  • Possibility Of Reveter
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21
Q

how to create a fee simple subject to condition subsequent

A

To A, but if X event occurs, grantor reserves the right to re-enter and take

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22
Q

what must grantor do for language for fee simple subject to condition subsquent

A

grantor MUST use clear duration language and STATE right to reneter

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23
Q

does the grantor need to state the right to re-enter for a fee simple subject to condition subsequent

A

YES

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24
Q

does the estate automatically end for fee simple subject to condition subsequent

A

NO. but can cut short if stated condition occurs. Grantor must have RIGHT TO RE-ENTER

25
Q

what is the future interest in fee simple subject to condition subsequent

A

right of re-entry

26
Q

how to create a fee simple subject to EXECUTORY INTEREST

A

to A, but if X event occurs, to B

27
Q

distinguishing characteristics of fee simple subject to executory interest

A

estate is AUTOMATICALLY FOREFITURED in favor of

2) SOMEONE other than grantor

28
Q

is the condition of a fee simple subject to executory interest automatic

A

YES

29
Q

what is the difference b/w a fee simple subject to executory interest and fee simple determinabile

A

both end automatically on certain event, but
FSSE= goes automatically to 3rd party
FSD= goes automatically to grantor

30
Q

what are the 2 rules for defeasible fees in construction?

A

1) words of mere desire, hope or intention ARE INNSUFFICIENT TO CREATE a defeasible fee
2) absolute restraints on alienation are void

31
Q

are mere desires, hopes or intention of words enough to create a defeasible fee?

A

NO, need express and clear duratational language to be used

32
Q

is an absolute restraint on alienation void for defeasible fees?

A

YES

33
Q

how is a life estate measured in?

A

measured in explicit life time terms

34
Q

can a life estate be measured in years

A

NO

35
Q

what is a holder of a life estate called

A

life tenant

36
Q

what does O hold if only gives out life estate to someone

A

reversion, reverts back to O or O’s heirs

37
Q

what is a life estate pur autre vie

A

life estate measured by the life of another

38
Q

example of life estate pur autre vie

A

To madonna, for the life of David Letterman

39
Q

what is the major rule that applies to life tenants entitlements

A

doctrine of waste

40
Q

what are the 3 doctrines of waste

A

1) voluntary or affirmative waste
2) permissive waste or NEGLECT
3) ameliorative waste (improvements w/o consent)

41
Q

what is voluntary or affirmative waste under life estate

A

willful destruction

42
Q

voluntary waste and natural resources

A

life tenant must NOT consume or exploit natural resources on the property (such as timber, oil, minerals) unless 1 of 4 X/C

43
Q

what is the 4 x/c for doctrine of waste (PURGE)

A

1) PU: prior use
2) R:repairs
3) G: granted
4) E: explicitly stated

44
Q

prior use x/c for doctrine of waste and natural resources

A

prior use, meaning land was used for exploitation

45
Q

open mines doctrine

A

if mining was done on the land BEFORE the life estate began, life tenant is limited to MINES ALREADY OPEN . Thus the life tenant may not open any new mines

46
Q

repairs x/c for doctrine of waste

A

the life tenant may consume natural resources for repairs and maintenance

47
Q

granted for x/c to doctrine of waste

A

the life tenant may exploit if granted that right

48
Q

exploitation x/c for doctrine of waste

A

meaning land used only for exploit

49
Q

permissive or neglect waste

A

land falls into despair

- life tenant must simply MAINTAIN the premises in reasonably good repair

50
Q

what is life tenant required to do for taxes

A

obligated to pay all ordinary taxes on the land, to the extent of income or profits of the land.

51
Q

what if there is no income or profit on land of life tenant

A

the life tenant is required to pay all ordinary extent to premises FAIR RENTAL VALUE
- NO income or profit, only tax on FAIR RENTAL VALUE

52
Q

what is aemoliorative waste

A

must not engage in acts that will ENHANCE THE PROPERTY’s value unless

1) all future interest holders ARE KNOWN and
2) CONSENT

53
Q

what must happen to make acts that will engage the property value of life estate

A

1) all future interest holders are KNOWN and must

2) consent

54
Q

are direct restraints on fee simple allowed

A

NO they are held to be void

55
Q

if future interests can be transferred voluntary can they also be reached involuntary by creditors?

A

YES.

- All vested remainders are fully transferable during life

56
Q

Life tenant duties for mortgages

A

life tenants have to pay the interest on the mortgage but not the principal

57
Q

Do life tenants have to pay the principal of the mortgage

A

NO only have to pay the interest

58
Q

Are life tenants responsible for paying property taxes on land

A

YES responsible for the property taxes on the land ( do not have to pay the principal of a mortgage but must pay the interest on mortgage)

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