Present Estates

Question 1

Present Estates + Future Interests

Answer 1

1. FSA
2. FSD (duration) -> Poss of Rev (auto)
3. FSsCS (cond) -> Right of Entry (option by reentering or suing)
4. FSsEL (TP) -> Shifting Exec Int (auto)

Reasonable alienation restraint ok

Question 2

Life Estate

Answer 2

Followed by Reversion or Remainder

Duty = No Waste
1. Affirmative: exploit resources other than Prior Use, Repairs (reas.), Grant, Exploiting only use

2. Permissive: fail to reas repair + pay taxes to extent of income (or fair rental value)
3. Ameliorative: without future interest consent, even if increases value

Question 3

4 Types Remainders

Answer 3

1. Indefeasibly Vested: no conditions, certain to take
2. Vested Subject to Complete Defeasance: take subject to condition subsequent (as opposed to contingent remainder)
3. Vested Subject to Open: vested in class + one qualified to take + could be more (Rule of Convenience: class closes when any member can demand possession)
4. Contingent: unascertained person or subject to condition precedent

Question 4

Contingent Remainder Doctrines

Answer 4

1. Rule of Destructibility: used to destroy cont remainder if cont when prior estate ends; now revert to O + springing executory int.
2. Rule In Shelley’s Case: used to merge “to A for life, then to A’s heirs”; now = life estate + cont rem
3. Rule of Worthier Title: we may eliminate cont rem in O’s heirs, but O’s intent is key

Question 5

Executory Interests

Answer 5

Springing (cut short O)

Shifting (cut short a TP)

Question 6

RAP

Answer 6

Future interest invalid if could vest > 21 years after death of life in being at creation

Applies to: vested remainder subject to complete defeasance, vested remainder subject to open, contingent remainder, executory interest (+ option K and assignable ROFR)

Modern: “wait and see” or “w/in 21 years” savings clause