Present Possessory Estates

Question 1

Fee simple absolute: 1. Language? 2. Duration? 3. Transferability? 4. Future interest?

Answer 1

Fee simple absolute: 1. Language to
Create: “To A and his heirs.” or “To A.”
2. Duration: Absolute ownership, of potentially infinite duration.
3. Tranaferability: Devisable, descendible, alienable
4. Future Interest: None

Question 2

Fee tail: 1. Language? 2. Duration? 3. Transferability? 4. Future interest?

Answer 2

Fee tail: 1. Language? “To A and the heirs
of his body”
2. Duration? Lasts only as long as there are lineal blood descendants of grantee
3. Transferability? Passes automatically to grantee’s lineal descendants
4. Future interest? Reversion (if held
by grantor); Remainder (if held by third party).

Question 3

Defeasible fee simple determinable: 1. Language? 2. Duration? 3. Transferability? 4. Future interest?

Answer 3

Defeasible fee simple determinable: 1. Language? “To A so long as
…” or “To A until ….” or “To A while ….” (CLEAR DURATIONAL LANGUAGE providing that upon the happening of a stated event, the land is to revert to the grantor)
2. Duration? Potentially infinite, so long as event does not occur. IF EVENT OCCURS, FORFEITURE AUTOMATIC
3. Transferability? Alienable, devisable, descendible, subject to condition.
4. Future interest? Possibility of Reverter (held by grantor).

Question 4

Defeasible fee simple subject to condition subsequent: 1. Language? 2. Duration? 3. Transferability? 4. Future interest?

Answer 4

Defeasible fee simple subject to subsequent: 1. Language? “To A. but if X
event happens, grantor reserves the right to reenter and retake.” Grantor must carve out right of reentry.
2. Duration? Potentially infinite, so long as the condition is not breached and, thereafter, until the holder of the right of entry timely exercises the power of termination.
3. Transferability? Alienable, devisable, descendible, subject to condition.
4. Future interest? Right of Entry/Power of Termination (held by grantor)

Question 5

Defeasible fee simple executory limitation: 1. Language? 2. Duration? 3. Transferability? 4. Future interest?

Answer 5

Defeasible fee simple executor limitation: 1. Language? “To A, but if X event occurs, then to B.”

2. Duration? Potentially infinite, so long as stated contingency does not occur.
3. Transferability? Alienable, devisable, descendible, subject to condition.
4. Future interest? Executory Interest (held by third party).

Question 6

Life estate: 1. Language? 2. Duration? 3. Transferability? 4. Future interest?

Answer 6

Life estate: 1. Language? “To A for life.” or “To A for the life of B.”
2. Duration? Measured by life of transferee or by some other life (pur autre vie).
3. Transferability? Alienable, devisable and
descendible if pur autre vie and measuring life is still alive.
4. Future interest? Reversion (if held by grantor); Remainder (if held by third party).

Question 7

Define: 1. Devisable? 2. Descendible? 3. Alienable?

Answer 7

1. Devisable = it can pass by WILL;
2. Descendible? Can pass by statutes of INTESTACY;
3. Alienable? Transferable INTER VIVOS, during the holder’s lifetime.

Question 8

Bruce Willis rule. Do heirs have an interest while current holder is alive?

Answer 8

A living person has no heirs. Thus, while A is alive, he has only PROSPECTIVE HEIRS. They are powerless B/C THEY DON’T YET EXIST – NOT YET AN HEIR.

Question 9

Fee tail today is treated as?

Answer 9

Fee tail treated as fee simple absolute.

Question 10

Mick Jagger rule of property

Answer 10

You may convey less than what you started with, but you can’t convey more. In other words, YOU CAN’T ALWAYS GET WHAT YOU WANT.

Question 11

Accompanying future interest in fee simple determinable? (Frank Sinatra Didn’t Prefer Orville Redenbacher)

Answer 11

Yes, the “POSSIBILITY OF REVERTER” in the grantor. FSDPOR = fee simple determinable possibility of reverter

Question 12

“So long as” creates what?

Answer 12

Fee simple determinable

Question 13

“To A, but if X event occurs, grantor reserves the right to re-enter and retake” creates what?

Answer 13

Fee Simple Subject to Condition Subsequent = clear durational + right to reenter.

Question 14

Fee Simple Subject to Condition Subsequent = automatic reversion? Bobby Brown

Answer 14

NO, it merely gives the grantor the OPTION to reenter. It’s not automatic. Bobby Brown = IT’S MY PREROGATIVE = RIGHT OF ENTRY, RIGHT OF TERMINATION

Question 15

“To A, but if X event occurs, then to B” creates what?

Answer 15

Fee Simple Subject to Executory Limitation.

Question 16

In Fee Simple Subject to Executory Limitation, to A, but if X occurs, to B, creates __________ in B? Automatic?

Answer 16

Shifting executory interest. Automatic forfeiture to B if condition occurs.

Question 17

Two rules of construction re defeasible fees?

Answer 17

1) Words of mere desire, hope, or intention are insufficient to create a defeasible fee b/c COURTS DISFAVOR RESTRICTIONS ON FREE USE OF LAND ==> requires CLEAR DURATIONAL LANGUAGE.
2) Absolute restraints on alienation are VOID –> can’t ban power to sell or transfer in way that is not linked to a REASONABLE, TIME-LIMITED PURPOSE, e.g., “so long as she never attempts to sell” becomes FEE SIMPLE ABSOLUTE.

Question 18

Life estate requires language of… ROMANTIC ESTATE

Answer 18

EXPLICIT LIFETIME TERM and not some number of years. ROMANTIC = REST OF YOUR/MY LIFE.

Question 19

1. Person with life estate is a _______? 2. Grantor who granted life estate has ________?

Answer 19

1. Is the LIFE TENANT

2. Grantor has a REVERSION (goes to A or A’s heirs)

Question 20

The life estate pur autre vie means?

Answer 20

“To A for the life of B.” Life estate measured by life other than the grantees.

Question 21

Gen rule re profit/waste on life estates.

Answer 21

Life tenant entitled to all ordinary use/profit from land, but must not COMMIT WASTE, i.e. must not hurt future interest holders.

Question 22

Three variations on waste theme re life estate.

Answer 22

Life tenant must not COMMIT WASTE, i.e. must not hurt future interest holders. Three species of waste

1. VOLUNTARY/affirmative waste = overt conduct causing drop in value; (A) re natural resources: PURGE = Prior Use determines life tenant usage; Repairs and maintenance can be paid for w/ nat resource; Granted right to use nat resources; Exploitation - okay if land is suitable only to exploit (rock quarry).
2. PERMISSIVE waste = life tenant must MAINTAIN estate and pay taxes; cannot neglect/allow waste.
3. AMELIORATIVE waste: can’t engage in acts that will enhance property value UNLESS ALL FUTURE INTEREST HOLDERS ARE KNOWN AND CONSENT.

Question 23

1. Post-death life estate interest held by grantor is?

2. Held by third party is?

Answer 23

W/R/T life estate

1. Reversion w/ grantor.
2. Remainder w/ third party.

Question 24

does language such as “for the purpose of” pr “to be used for” create fee simple determinable?

Answer 24

no, that’s merely a statement of desire. you need CLEAR DURATIONAL LANGUAGE

Question 25

what restraints on the transferability of land violate public policy?

Answer 25

If the purpose of the condition is to PENALIZE MARRIAGE or ENCOURAGE DIVORCE, it will likely be struck down. However, if the purpose is to GIVE SUPPORT until marriage or in the event of divorce, it will be upheld

Question 26

When can a life estate be terminated prior to the death of the measuring life?

Answer 26

When is a life estate subject to condition subsequent or subject to an executory interest