Present Estates Flashcards
What are the distinguishing characteristics of a Fee Simple Absolute?
Absolute ownership of potentially infinite duration.
Freely devisable, descendible, and alienable.
Language to create a Fee Simple Absolute?
“To A” or “To A and his heirs”
“To A” or “To A and his heirs” creates a … ?
Fee simple absolute.
What are the accompanying future interests of a Fee Simple Absolute?
There are none.
How do you create a Fee Tail?
“To A and the heirs of his body.”
What happens today when you attempt to create a fee tail?
It is read as a fee simple absolute. (“of his body” restricted heirs to blood relations)
How do you create a Fee Simple Determinable?
“To A for so long as …” “To A during …” “To A until …”
Use of clear durational language.
What happens if the condition of a Fee Simple Determinable is violated?
Forfeiture is automatic.
What are the distinguishing characteristics of a Fee Simple Determinable?
It is devisable, descendible, and alienable BUT ALWAYS SUBJECT TO THE CONDITION.
A person cannot convey more than what they have, i.e. can’t convey fee simple determinable as a fee simple.
What are the accompanying future interests of a fee simple determinable?
Grantor has the “possibility of reverter”.
“To A for so long as …” “To A until …” “To A during …” creates what kind of conveyance?
A Fee Simple Determinable.
How do you create a Fee Simple Subject to Condition Subsequent (NY: Fee on Condition)?
“To A, but if X event occurs, grantor reserves the right to reenter and retake.”
What are the distinguishing characteristics of a Fee Simple Subject to Condition Subsequent (NY: Fee on Condition)?
The estate is not automatically terminated when the event happens. If the event happens, grantor has the option to take back the property (but doesn’t have to).
What is the accompanying future interest to the Fee Simple Subject to Condition Subsequent (NY: Fee on Condition)?
Grantor has the right of reentry, aka the power of termination.
NY: grantor has the right of reacquisition.
What do the words “To A, but if X happens, grantor reserves the right to reenter and retake” create?
A fee simple subject to condition subsequent
NY: fee on condition
How do you create a Fee Simple Subject to Executory Limitation?
“To A, but if X occurs, then to B”
What are the distinguishing characteristics of a fee simple subject to executory limitation?
If the condition is broken, the estate automatically transfers to someone other than the grantor.
What is the accompanying future interest to a fee simple subject to executory limitation?
a shifting executory interest.
What kinds of words are incapable of creating defeasible fees?
words of mere desire, hope, expectation, or intention
What happens if the conveyance says “to A with the hope that A use the property for agricultural purposes”?
A has a fee simple absolute.
What happens if grantor places an absolute restraint on alienation?
That restraint is void.
What constitutes an absolute restraint on alienation?
an absolute ban on the power to sell or transfer that is not linked to any reasonable time-limited purpose
What conveyance is created by “To A, but if X occurs, then to B”?
A fee simple subject to executory limitation
What does “to A for life” create?
A life estate in A and a reversion in O.
What if a has a conveyance that says “To A for life” and A sells to B?
B has a life estate pur autre vie (measured by the life of A)
O still has a reversion.
What is voluntary waste?
a life estate holder is prohibited from committing voluntary waste: willful destruction of the property
What happens if A, a life estate holder, chops down all the trees on the property?
A has committed voluntary waste.
What are the exceptions to the rule against consuming or exploiting the natural resources on the property by a life estate holder?
PRIOR USE (including open mines doctrine) - the land was previously used for exploitation.
REPAIRS: life tenant can consume natural resources to make repairs.
GRANT: if they have been given the right to consume/exploit
EXPLOITATION: the land is only suitable for exploitation (e.g. a quarry)
Can a life tenant commit permissible waste?
No - this is neglect. Life tenants have a duty to maintain the premises in reasonably good repair.
What “fees” must life tenants pay?
ordinary taxes on the fair market value of the property
Can a life tenant commit ameliorative waste?
Not without consent. A life tenant cannot engage in acts that enhance the property’s value without consent of future interest holders.
In NY: can make reasonable improvements if remaindermen don’t object.
What is the future interest in a life estate?
If held by the grantor: reversion
If held by another: remainder
“To A for life” creates a …?
Life estate in A.
If A sells to B, B has a life estate pur autre vie, and the property still reverts to O at the end of A’s life.
