Real Property: Life Estates Flashcards
Words That Create Fee Simple Absolute
Conveyances that are ambiguous are considered fee simple by default. At common law words such as “and heirs” were needed.
What is a defeasible fee?
Ownership of possibly infinite duration that may terminate by the occurence of an event.
What is a fee simple determinable?
Present interest that terminates upon the happening of a stated condition, such that upon that happening of the condition, full ownership is returned to the grantor.
Words that create a fee simple determinable
Words of duration, like “so long as” and “until.”
What is a possibility of reverter?
The interest that the grantor has in the fee simple determinable since it will automatically revert to him upon the happening of the stated condition.
How alienable is possibility of reverter?
It is freely alieanble by the grantor during his lifetime and upon his death.
What is a fee simple subject to condition subsequent?
Present fee simple that will end upon the occurrence of a condition.
What language creates fee simple subject to condition subsequent?
Language like “provided that,” “on condition that,” “but if.”
How alienable are fee simple determinables and fee simples subject to condition subsequent?
They are freely alieanble by owner during life and death and are devisable and descendible.
How is a fee simple subject to condition subsequent terminated?
The grantor has to affirmatively demonstrate intent to terminate. (Termination of fee simple determinable, in contrast, is automatic.)
What happens if language in conveyance is ambiguous b/t fee simple determinable v. condition subsequent?
Courts will generally adopt preference for condition subsequent.
What is a right of entry?
Also called right of re-entry or power of termination, this is right grantor to terminate fee simple subject to condition subsequent. Usually devisable and descendible but can’t be transferred during owner’s lifetime.
What is a fee simple subject to an executory interest?
Present fee simple limited by conditional or durational language and upon the occurrence of the condition the title will go to a third party.
What is an executory interest?
The interest held by a third party in a fee simple subject to an executory interest.
What is a fee tail?
Freehold estate that limits estate to grantor’s blood descendants through specific words–has been eliminated in most states, where it is instead treated as a fee simple absolute.
