Present Possessory Estates Flashcards
“To A”
or
“To A and his Heirs”
To A for the purpose …
To A with the hope …
To A with the expectation …
Fee Simple Absolute
Words of desire, hope, or intention do not create a defeasible fee
“To A & his heirs for so long as …”
until…”
while…”
during…”
Fee Simple Determinable
“To A & his heirs, but if …”
Upon condition that …”
Provided that…”
Fee Simple Subject to Condition Subsequent
“To A & his heirs for so long as …, and if not …, to B”
“To A his heirs, but if …, to B”
What does B have?
Fee Simple Subject to an Executory Interest
“To A for life,” or
“To A for the life of B”
“To A for life, then to B”
“To A for life but if …, to B”
Life Estate
Fee Simple Determinable - Accompanying Future Interest in Grantor?
Possibility of Reverter - FORFEITURE IS AUTOMATIC!
Whenever a grantor conveys a fee simple determinable, they automatically retain a possibility of reverter
Remember FSDPOR
Fee Simple Determinable Possibility of Reverter
Frank Sinatra Didn’t Prefer Orville Redenbacher
Fee Simple Subject to Condition Subsequent - Accompanying Future Interest in Grantor?
Right of re-entry
Grantor reserves the right to terminate the estate upon the happening of a stated event
MUST BE EXPRESSLY RESERVED
Life Estate - Accompanying Future Interest
Reversion
if held by a 3rd party -> remainder
Fee Simple Subject to an Executory Interest - Accompanying Future Interest in Grantor?
Possibility of Reverter - if the executory interest is based on a condition being met (fee simple determinable)
- Ex. To A & his heirs for so long as …, and if not …, to B
Right of re-entry - if the executory interest is based on a condition subsequent (fee simple subject to condition subsequent)
- Ex. To A & his heirs, but if…, to B
Rule Against Restraints on Alienation
Absolute restraints on alienation of a fee simple are void!
Ex. O conveys: “To A so long as she never attempts to sell.”
THIS IS VOID!
So O has nothing and A has a fee simple absolute
“To A for the life B”
O conveys: “To Ronaldo, for the life of Lionel Messi”
Life Estate Pur Autre Vie (Life of Another)
Ronaldo has life estate pur autre vie
O has a reversion
Estate reverts back to O at the end of Messi’s lifetime
“To A for 50 years, if she lives that long”
“To A for life, but in no event more than 10 years”
Leasehold Interests
THESE ARE NOT LIFE ESTATES!
Rule against Perpetuities
Certain kinds of future interests are void, if there is any possibility that the interest might vest more than 21 years after a person alive at the time of the grant has died
