Present Possessory Interests Flashcards
Fee Simple Determinable
terminates upon the happening of a stated event and automatically reverts to the grantor
“so long as” “while” “during” “until”
Expressions that do not create a FSD
“for the purpose of” and “to be used for”
future interest with FSD
Possibility of Reverter
Fee Simple Subject to Condition Subsequent
an estate in which the grantor reserves the right to terminate the estate upon the happening of a stated event. the grantor must take action it does not happen automatically. “upon condition that” “provided that” “but if” and “if it happens that”
future interest with FSSCS
Right of Entry - devisable and descendible have to expressly reserve these
Fee simple subject to an executory interest
terminates upon the happening of a stated event (because it is determinable or subject to a condition subsequent) and then passes to a third party rather than reverting to the grantor, a third party has an executory interest
ex. To A and his heirs for so long as liquor is not sold on the premises; in that event, to B.
ex. Blackacre to XYZ church, but if it is used for anything other than church purposes, then to B.
Condition to penalize marriage or encourage divorce
will be struck down
fee tail
an estate where inheritability is limited to lineal heirs
to A and the heirs of his body, most jurisdiction abolish this
Life Estate
is one measured by the life or lives of one or more persons. It may be created by operation of law or conveyance.
For life of Grantee
the usual life estate is measured by the life of the grantee. to B after the life of A
Life Estate Pur Autre Vie
a life estate pur autre vie is measured by a life other than the grantee’s (to A for the life of B). also results when the life tenant conveys his life estate to another
Rights and Duties of a Life Tenant
a life tenant is entitled to ordinary uses and profits of the land but cannot do anything that injures the interests of the remaindermen or reversioner. a future interest holder may sue for damages or enjoin these acts.
Affirmative Waste
exploitation of natural resources by a life tenant is generally limited to situations when 1. necessary for repair or maintenance of the land; 2. the land is suitable only for such use; or 3. it is expressly or impliedly permitted by the grantor.
Open Mines doctrine
if mining was done on the land prior to the life estate, the life tenant can continue mining - but is limited to the mines already done.
Permissive Waste
a life tenant is obligated to : 1. preserve the land and structures in a reasonable state of repair 2. pay interest on mortgages not the principal, 3. pay ordinary taxes on the land, and 4. pay special assessments for public improvements of short duration. this waste occurs when life tenant fails to do these. A life tenant is not obliged to insure the premises and is not liable for damages caused by a third party tortfeasor.
