Property Flashcards
What does devisable mean?
Can pass by will
What does descendible mean?
It will pass by statutes of intestacy if holder dies without a will.
What does alienable mean?
Transferable inter vivos
What type of estate is created by “ to A and his heirs?”
Fee simple absolute (FSA)
What type of estate is created by “ to A and the heirs of his body?”
Historically, creates a fee tail, passing to grantor’s lineal blood descendants, but today creates a FSA.
“To A for so long as [during, until] the premises are used for a recording studio” creates what type of estate in A and future interest?
Fee simple determinable, possibility of reverter
Frank Sinatra didn’t prefer Orville Redenbacher (FSDPOR)
Ross conveys “To Rachel, but if coffee is ever consumed on the premises, grantor reserves the right to re-enter and retake” creates what type of estate in Rachel and future interest?
Fee Simple Subject to Condition Subsequent, right of entry
“To Barry Manilow, but if Manilow ever performs music on the premises, then to Mandy” creates what type of estate in Manilow and future interest?
Fee Simple Subject to Executory Limitation, shifting executory interest
“To A for the purpose of constructing a day care center”; creates what type of estate in A?
Words of mere desire, hope, or intention are insufficient to create a defeasible fee. A is vested with a fee simple absolute, and NOT a defeasible fee.
“To A so long as she never attempts to sell” creates what type of estate in A?
An absolute restraint on alienation is an absolute ban on the power to sell or transfer that is not linked to a reasonable time-limited purpose, which is void. Here, the devise is an absolute restraint on alienation. A has a FSA and O has nothing.
“To A so long as she does not attempt to sell until the year 2015 when clouds on the title will be resolved.”
An absolute restraint on alienation is an absolute ban on the power to sell or transfer that is not linked to a reasonable time-limited purpose, which is void. Here, the restraint is linked to a reasonable, time-limited purpose. Thus, A has a fee simple determinable and O has a POR.
“To A for life” creates what type of estate in A and future interest?
A has a life tenancy (is called the “ life tenant”); O has reversion (estate reverts back to O or O’s heirs at end of A’s lifetime)
“To A for life, but in no event more than 10 years,” creates what type of estate in A and future interest?
A has a term of years (a leasehold interest), and NOT the life estate; O has a reversion.
To Madonna, for the life of David
Letterman” creates what type of estate in M and future interest?
M has a life estate pur autre vie; O has a reversion at the end of DL’s life.
O conveys “to Madonna for life.” Madonna then sells her entire interest to David Letterman. What type of estate in DL and future interest?
DL has a life estate pur autre vie (based upon the life of M; M couldn’t sell more than she had). O has reversion at the end of M’s life.
What is voluntary or affirmative waste?
Although the life tenant is entitled to all ordinary uses an profits from the land, a life tenant cannot commit waste. Voluntary or affirmative waste is an overt act (such as willful destruction) that causes a decrease in the property’s value.
What is the general rule regarding voluntary waste and natural resources?
The general rule is the life tenant must not consume or exploit natural resources on the property (such as timber, oil, or minerals), unless one of four exceptions applies, remembered by PURGE.
What are the four exceptions that allow a life tenant to consume or exploit natural resources on the property?
PURGE:
PU: Prior Use: if prior to the grant the land was used for exploitation, life tenant may continue to exploit, unless otherwise agreed.
R: Repairs: the life tenant may consume natural resources for repairs and maintenance.
G: Grant: LE made exploit if granted that right
E: Exploit: the land is only suitable for exploiting (e.g., quarry).
What is the open mines doctrine?
If mining was done on the land before the life estate began the life tenant may continue to mine, but his limited to mines already open.
What is permissive waste and what does the prevention of it obligate?
Tenant fails to take reasonable steps to protect premises from damage from the elements.
Tenant liable for all ordinary repairs, excluding ordinary wear and tear. T must pay all ordinary taxes on the land.
What is ameliorative waste and what does the prevention of it obligate?
The life tenant must not engage in acts that will enhance the property’s value, unless all future interests holders are known and consent.
What is the life estate’s accompanying future interest called?
If held by O, the grantor, it is called a reversion. If held by a third party, it is a remainder.
What is the future interest capable of creation in the grantor in a FSD?
POR
What is the future interest capable of creation in the grantor in a FSSCS?
ROE