Property 1 Future Interests Review Worksheet

Question 1

Fee Simple Absolute
Example:

Answer 1

O to A

Question 2

In a Fee Simple Absolute “O to A”. Has O given away all of his rights?

Answer 2

Yes!

Question 3

What are the future interests in land in a fee simple absolute?

Answer 3

None!

Question 4

Fee Tail
Example

Answer 4

“O conveys to A and the heirs of his body”

Question 5

What type of estate in land stays in the family until the bloodline dies out?

Answer 5

Fee tail

Question 6

A fee tail stays in the family until bloodline dies out. Is there a future interest?

Answer 6

Yes. Always a future interest

Question 7

In a Fee Tail, “O conveys to A and the heirs of his body”
What does O have?

Answer 7

Reversion

Question 8

In a fee tail, “O conveys to A and the heirs of his body”. O has a reversion what does the third party have?

Answer 8

Remainder either vested or contingent

Question 9

You can break a _______ _______ during your life time but you cannot leave it to anyone in a _______. _______ _______ trumps a ________.

Answer 9

Fee tail
Will.

Fee tail
Will.

Question 10

Life Estate Example

Answer 10

“O to A for life”

Question 11

In a life estate “O to A for life.” A has a life estate. When A dies it goes back to O. what does O have?

Answer 11

O has a reversion

Question 12

“O to A for life” If A transfers her life estate to B, B’s estate will last only as long as A lives. What is this known as?

Answer 12

Life estate per autre vie

Question 13

“O to A for life.” If A transfers her life estate to B, B’s estate will last only as long as A lives (life estate per autre vie). If B dies before A does, the life estate…

Answer 13

Passes to B’s heirs or devisees for the duration of A’s lifetime.

Question 14

Ascertained takers who are not subject to a condition precedent.

Answer 14

Vested remainders

Question 15

Vested remainders

Answer 15

Ascertained takers who are not subject to a condition precedent

Question 16

Unascertained takers or subject to a condition precedent

Answer 16

Contingent remainder

Question 17

Contingent Remainder

Answer 17

Unascertained takers or subject to a condition precedent

Question 18

Term of Years
Example:

Answer 18

“O to A for 20 years”

Question 19

Estate in some land for some period of time that is measured by the calander.

Answer 19

Term of years

Question 20

Term of Years
“O to A for 20 years” what does O have?

Answer 20

Reversion

Question 21

Term of years. “O to A for 20 years.” O has a reversion. What future interest does a third party have?

Answer 21

Remainder vested or contingent

Question 22

What are the two defeasible fees?

Answer 22

Fee simple determinable
Fee simple subject to condition subsequent

Question 23

Fee Simple Determinable Example:

Answer 23

“O to A so long as it is used for law school purposes”

Question 24

Fee simple determinable
“O to A so long as it is used for a law school.” What does O have?

Answer 24

Possibility of reverter
(Functions automatically. O doesn’t have to act.)

Question 25

Fee Simple Determinable. “O to A so long as it is used for law school purposes.” O has a possibility of reverted. What future interest does a third party have?

Answer 25

Executors interest

Question 26

Fee Simple Determinable. “O to A so long as it is used for law school purposes. If they mess up then to Bob.” What does Bob have?

Answer 26

Executory interest

Question 27

Fee simple subject to condition subsequent example:

Answer 27

“O to A but if it ceases to be used for a law school back to O.”

Question 28

Fee Simple Subject to Condition Subsequent. “O to A but if it ceases to be used for a law school back to O” what does O have?

Answer 28

Right of entry (power of termination)

Question 29

Fee simple subject to condition subsequent. “O to A but if it ceases to be used for a law school, then to Bob.” What does a Bob have?

Answer 29

Executory interest