Present Interests in Freehold Estates Flashcards
What is a fee simple?
An estate where one or more people have the entire interest, both present and future interest
‘Fee’ refers to the estate, and ‘Simple’ indicates it is inheritable and fully transferable. ‘Absolute’ is no limitation on the estate that would keep it from enduring potentially forever
what does “alienable” mean?
its transferrable
What does devisable mean?
its transferable by will
What does descendible mean?
its transferrable (passed down) to family members through inheritance
ex. if a person dies without a will, then it can be passed down as an inheritance
What is the common law view regarding the conveyance of a fee simple absolute?
The grantor had to use specific words to convey a fee simple absolute in the conveyance.
What is the modern view of fee simple conveyance?
Most states have enacted fee simple presumption statutes that construe ambiguous language to convey a fee simple absolute unless indicated otherwise.
What is the significance of the case Cole v. Steinlauf?
Where the conveyance lacked the word ‘heirs,’ thus the grantee had no fee simple absolute.
What are the restraints on a fee simple?
Total and partial restraints.
Total restraint is void, while partial restraint may be valid if reasonable.
What is are Fee Simple Defeasibles (FSD)?
Estates that will be terminated prior to its natural end point upon the occurrence or non-occurrence of a specified future event.
Acc to Prof, any estate can be made defeasible
What is a Fee Simple Determinable?
A fee simple that automatically ends when a certain event or condition occurs.
What are the words of limitation for a Fee Simple Determinable?
- ‘as long as’
- ‘so long as’
- ‘while’
- ‘during’
- ‘until’
What follows a Fee Simple Determinable?
A possibility of reverter.
becomes possessory upon the happening of the stated condition where the OG grantor receives the estate as a FSA
What can you do with a FSD?
It can be freely alienable, devisable, and descendible.
what is a FSSCS?
a fee simple estate created in a transferee that may be terminated at the election of the transferor when a certain condition or event occurs.
If the condition happens, this estate does not end automatically; rather, the transferor has the power to terminate the estate by taking action.
What is the difference between FSD and FSSCS?
FSD automatically ends upon condition occurrence, while FSSCS requires the transferor to take action to terminate the estate.
What are the words of limitation for a Fee Simple Subject to a Condition Subsequent?
- ‘upon condition that’
- ‘provided however that’
- ‘but if’
- ‘on condition that’
What future interest follows a Fee Simple Subject to a Condition Subsequent?
A right of entry.
Because it is possible that the person’s estate will last forever, the person has a fee simple.
However, because the estate may be cut short in the future if a stated event occurs
interest goes to the grantor, not a grantee
What can you do with a FSSCS?
its freely alienable, devisable, and descendible.
What is the rule held in Mahrenholz v. County Board of Trustees?
When considering the intent of the grantor, the Deed language granting land for an ambiguous purpose and otherwise reverting the land to the grantor creates a fee simple determinable followed by a possibility of reverter.
when dealing with an issue of a FSD or FSSCS
What is the rule held in Metropolitan Park District?
After there is a breach of a condition subsequent (FSSCS), the grantor’s right to declare forfeiture expires if he fails to exercise it within a reasonable time of the breach
What are the 2 approaches on Adverse Possession on FSSCS
In some states, the statute of limitation does not run until the grantor attempts to re-enter and take the land.
In other states, the statute of limitations begins to run on the right of entry when the condition is breached, or require re-entry within a reasonable time after the breach.
What is a Fee Simple Subject to an Executory Limitation?
A defeasible fee simple that is followed by a future interest in a third party.
Where there is a FSD or FSSCS and interest held by a 3rd party, a grantee rather than the grantor
FSSEL words of limitation
® so long as,
® while,
® during,
® until,
® provided that,
® but if,
on condition that
What can you do with a FSSEL?
its freely alienable, devisable, and descendible
