Present Possessory Estates

Question 1

Fee Simple Absolute

Answer 1

A fee simple absolute is the largest estate that can be held. It can be sold, divided, devised, or inherited and lasts for a potentially infinite duration. Here,

Question 2

Defeasible Fees

Answer 2

A defeasible fee is a fee simple estate that can be terminated upon the happening of a stated event.

Question 3

Fee Simple Determinable (Possibility of Reverter)

Answer 3

A fee simple determinable terminates upon the happening of the stated event, and will AUTOMATICALLY revert back to the original conveyor. Here,

Key words - So long as, Until, During, While

Question 4

Fee Simple Subject to Condition Subsequent (Right of Entry)

Answer 4

A FSSCS is an estate where the grantor reserves the right to re-enter and terminate the estate upon the happening of the stated event. This right to terminate is called the “right of entry” and must be expressly reversed. Here,

Key words - But if, Provided that, On condition that

Question 5

Fee Simple Subject to Executory Limitation (Executory Interest)

Answer 5

A FSSEL will automatically terminate upon the happening of the stated event, and the interest in the property will be granted to a 3rd party, who is the owner of the executory interest. Here,

Springing - Cuts off grantor
Shifting - Cuts off previous interest holder

Question 6

Fee Tail

Answer 6

A fee tail limits the succession of estate to the lineal heirs of the grantee. The fee tail is abolished in most jurisdictions and has been replaced by the fee simple absolute.

Question 7

Life Estate

Answer 7

A life estate is one that is measured by the life of a specific person. Here,

Question 8

Life Tenant Duties (Waste)

Answer 8

The holder of a life estate is entitled to the normal use and enjoyment of the property but cannot do anything that would reduce the value of the future interest holders. The duties of the life tenant and the doctrine of waste walk hand in hand.

Question 9

Affirmative Waste

Answer 9

Affirmative Waste is when the tenant purposely does something that reduces the value of the property.

Question 10

Permissive Waste

Answer 10

Permissive waste occurs when the tenant allows the property to fall into disarray because of a lack of substantial upkeep of the property. This includes not paying taxes, mortgages, etc…

Question 11

Ameliorative Waste

Answer 11

Ameliorative waste occurs when the tenant does something that improves the value of the property