Property (Future Interests) Flashcards
CL: O conveys “to A and his heirs”
MT: any infinite and perpetual language
Fee Simple Absolute (Magic Words)
CL: Without the magic words, it is a Life Estate.
MT: does not require the magic words
No Future Interest
Fee Simple Absolute (Deviant Language)
Default Estate in MT
Largest possible estate
Infinite duration
Freely alienable, inheritable, divisible
Fee Simple Absolute (Characteristics)
Tie up the Property in the family to eliminate feudal incidents
Fee Tail CL (Fee Simple Conditional) Characteristics
“and the heirs of his body and his issue”
Fee Tail CL (Fee Simple Conditional) Magic Words
CL:Fee Tail
MT: Fee Simple Absolute
Fee Tail CL (Fee Simple Conditional) Deviant Language
Magic words “and the male heirs of his body,” Deviant Language-CL only, Future Interest: CL O has a reversion
Fee Tail Male/Female
CL: O has a reversion
MT: FSA; O does not have a reversion
Fee Tail CL (Fee Simple Conditional) Future Interests
No conditions, nothing
will affect vesting
To A for life, remainder to B
Indefeasibly Vested
Remainder
A has a life estate.
B has an indefeasibly
vested remainder in FSA.
No reversion
“and his issue by his wife W”
Deviant Language-CL only
Future Interest-CL: O has reversion
Fee Tail Special
“and his male issue by his wife W”
CL only
CL: O has a reversion
Fee Tail Male Special
A condition subsequent
could defeat the
remainder.
Something can happen to
take it away.
Ex.
To A for life, then to B,
but if B does not reach
age 30, then to C.
COMMA
divesting event
Vested Remainder
Subject to Total
Divestment
(interests)
A has a life estate.
B has a vested remainder
subject to total divestment
in FSA.
C has executory interest in
FSA unless B reaches 30.
O has a reversion in FSA
unless B reaches 30.
Mostly created in trust today
Duration in term of life
“for life”
“not to be sold during lifetime”
O has a reversion
Third person:remainder
Life Estate
Class gift in which one of
the members of the class is known.
Shares are affected by persons coming in or out of the class.
A has a life estate. B has vested remainder subject to open in FSA.
No reversion.
Vested Remainder
Subject to Open
RAP
Ex. To A for life, remainder to
the children of B.
B has some children.
B is dead.
A living person has no
heirs.
A class can be a
measuring life as long as
it is closed (parent is
dead).
A condition subsequent
could defeat the
remainder.
Something can happen to
take it away.
To A for life, then to B,
but if B does not reach
age 30, then to C.
COMMA
divesting event
Vested Remainder
Subject to Total
Divestment
A has a life estate.
B has a vested remainder
subject to total divestment
in FSA.
C has executory interest in
FSA unless B reaches 30.
O has a reversion in FSA
unless B reaches 30.
Subject to condition
precedent (condition
must trigger in order to
vest interest) condition
must be in the clause that
creates the interest
Ex.
To A for life, remainder to
B if B survives A.
NO COMMA
condition precedent
Contingent Remainders
(Always a reversion until
the condition occurs or
unascertained persons are
ascertained)🡨then, it
becomes vested
RAP
A has a life estate.
B has a contingent
remainder subject to
condition precedent in
FSA.
O has a reversion in FSA.
Given to unascertained
persons (unborn or heirs
of living person; no heirs
if the person is alive)
To A for life, remainder to
the children of B.
B has no children.
B is alive.
A living person
Contingent Remainders
(Always a reversion until
the condition occurs or
unascertained persons are
ascertained)🡨then, it
becomes vested
RAP
A has a life estate.
B’s children have a
contingent remainder in
FSA.
O has a reversion in FSA.
Contingent remainders
that will divest if the prior
contingent remainder fails
to develop.
Ex.
To A for life, remainder to
B if B survives A, and if B
does not survive A, then
then to C.
To A for life, then to B if
B reaches age 21, but if B
does not reach age 21,
then to C.
Alternative Contingent
Remainders
A has a life estate.
B has a contingent
remainder in FSA.
C has an alternative
contingent remainder in
FSA. O has a technical
reversion in FSA.
If B survives A, B’s
remainder becomes
indefeasibly vested and C
and O’s have nothing
Future interest that provides reversion to a thrid party instead of a grantor. Usually does not follow a life estate.
O to A as long as used for X, but then reverts to B.
Executory Interest
A has defeasible fee.
B holds executory interest
(automatic reversion)
Third Party: Temporality
“to A for the life of B”
O has a reversion
Third person: remainder
(Life Estate) Per Autre Vie: for the duration of another life
Cuts off a grantors interest
and springs to a third party
There is an interest that
will commence in the
future
Ex.
O (to O, but) to A if A
graduates from law
school.
Springing Executory
Interest
O has a defeasible fee
subject to executory
limitation, A has springing
executory interest.
“while”
“until”
“during”
“so long as”
To A and his heirs until A
marries B.
Possibility of Reverter
A has FSD.
O has possibility of
reverter
Shall terminate when an
event happens
Automatic
Fee Simple Determinable
Cuts off a grantee’s
interest and shifts it to a
third party
There is a condition in a
third person after a fee is
created
Ex.
O to A and his heirs, but if
B graduates from law
school, then to B and his
heirs
Shifting Executory
Interest
A has defeasible fee
subject to executory
limitation, B has an
executory interest
“if”
“but if”
“on condition that”
“provided that”
“however”
To A and his heirs, but if
the premises are not used
as a church, then O may
enter and terminate the
estate.
To A and his heirs,
however, if A does not
divorce B, then O may
reenter and claim the
property.
Right of Entry or Power of
Termination
Majority: right of entry
language must be
expressly stated in the
conveyance.
A has FSSCS.
O has expressly reserved
right of entry and power
of termination.
Terminates if the stated
condition occurs
Not an automatic
termination
Fee Simple Subject to a
Condition Subsequent
