Property Interests Flashcards
What happens when a third party violates the condition set out in the Fee Simple Subject to Condition Subsequent?
Unless the grantor/heirs take affirmative action, NOTHING HAPPENS. The third party still retains the property. Upon the occurrence of the stated condition, the FSSCS will terminate only if the holder of the right of entry (here, the friend) affirmatively demonstrates an intent to terminate—e.g., by bringing an eviction action.
What happens to a grantor’s future interests when a grantor devises his real property in a will?
The owner retained a possibility of reverter, which was freely alienable by the owner during life and upon death. The owner devised his possibility of reverter, along with his remaining real property interests, to the companion by will—leaving no real property interest for the son to inherit.
What is the Cy Pres Doctrine?
Under the doctrine of cy pres, a court may make changes to a conveyance in order to come “as near as possible” to the intent of the transferor. While the doctrine of cy pres is most often applied by a court in the context of a charitable gift, it may also be applied to achieve the intent of a grantor or testator by avoiding the effect of the Rule Against Perpetuities.
MPQ 5, Q3
Can a restraint on alienation on a beneficial interest be valid?
Yes.
Note: Beneficial interest is not legal interest. Beneficial interest is when someone is the beneficiary of a trust.
Also note: when beneficial interest (or even legal interest?) is restrained temporarily, it’s allowed.
MPQ 5, 10
If Neighbor X damages a life tenant’s roof, can the future interest in the property sue the life tenant?
No. A life tenant is not responsible for damage caused by a third-party tortfeaser. Thus, the general rule that a life tenant has a duty to reasonably repair the property does not apply in this case.
