Primary Estates Flashcards
Fee Simple Absolute (FSA) words of purchase:
“To A and his heirs”
“To A”
“To B forever”:
Modern Law: FSA
Common Law: Life Estate
Fee Simple Absolute (FSA)
Common Law vs Modern Law
Common law: must be specific, if it is not, it will likely not be an FSA.
Modern Law: will presume an FSA if it is unclear.
Fee simple Defeasible breaks down into:
Fee Simple Determinable (FSD)
Fee Simple Subject to a Condition Subsequent (FSCS)
Fee Simple Subject to Condition Subsequent (FSEL)
Fee Simple Determinable vs Fee Simple Subject to Condition Subsequent on ending times
FSD ends automatically when a stated event occurs. FSCS does not automatically end, but when a stated event occurs it allows the conveyer the rift to reenter the property.
Fee Simple Determinable has a possibility of (blank)
Reverter
Fee Simple Determinable words of purchase
“To A and her heirs as long as/while/until…”
Durational language such as “during” or “so long as” etc.
Is an FSD transferable?
Under the common law, it is transferable, devisable, and inheritable, as long as the future interest belongs to O.
Words of purchase for Fee Simple Subject to Condition Subsequent
“And her heirs, but if (this event occurs) then O has the right to reenter.”
“Provided” “however” “when The premises” “on condition that…”
Who owns the future interest in a Fee Simple Subject to An Executory Limitation?
A future interest belongs to a third party
What is a shifting interest in an FSEL?
When the right to possession is being taken from a 3rd party.
What is a springing interest in an FSEL?
When the right to possession is being taken from the grantor.
How can an FSEL be transferred?
They are inheritable and devisable but not transferable under both modern and common law.
Rule in Shelleys Case:
O> A for life, then to the heirs of A and their Heirs.
This was used to avoid the seeded inheritance tax under common law. No longer works because the courts saw through it.
Rule of convenience - vested remainders subject to open
Once one member of the class is entitled to take actual possession of the property, the class will close.
