Rules Regulating Agreements about Estates and Future Interests

Question 1

what is a defeasible fee

Answer 1

a fee simple with a catch

Question 2

what are the kinds of defeasible fees

Answer 2

fee simple determinable

fee simple subject to condition subsequent

fee simple subject to executory limitation

Question 3

what are the kinds of waste a life tenant can not do

Answer 3

voluntary/ affirmative: willful trashing

permissive: neglectfulness
ameliorative: ‘enhancing’

Question 4

what is vested

Answer 4

we know who gets it, and no pre reqs

Question 5

what is contingent

Answer 5

we don’t know who gets it yet or pre reqs not met eyt

Question 6

what is an executory interest

Answer 6

future interest created in a grantee that takes effect by cutting short another

Question 7

contingent remainder: O to A for life, then to B if B graduates. what if A dies before B graduates?

Answer 7

courts no longer view contingent remainder as destructible

B will have executory interest and as much time as needed. meanwhile O gets it

Question 8

what are the 3 kinds of vested remainder

Answer 8

absolutely vested remainder
vested remainder subject to open
vested remainder subject to divestment

Question 9

do courts like destroying a present possession

Answer 9

no – will try to keep it in hands of present possessor