Present Possessory Interests Flashcards
Fee Simple Absolute
To A and his Heirs or to A
asbolute ownership
freely alienable durin life
freely divisible in will
Life Estate
To A for Life
A is life tenant. Reversion in O.
Must be in terms of life not years
Life Estate per autre vie = life estate measured by another’s life. O still reversion at end
life estate and waste
voluntary waste - overt conduct that cuases drop in value
permissive - falls into disrepair. There is an obligation to repair
ameliorative wast e- can’t unilterally enhance premise value unless all future interests consent
Fee Simple Determinable
For so ong as
until
while during
automatically reverts to the grantor
when the aciton is triggerd you forfeit the estate
need clear durational language + clear statement of reentry. THe statement of reentry is the power of termination but not automatically terminated
Fee Simpel Subject to shifting executory interest
to A for so long as … and if not… to B
TO A, but if …., to B
divets interest in a third party
divsts in third party and not grantor
