The Defeasible Fees Flashcards
What are Defeasible Fees?
Present Possessory Estates that may continue forever or may end upon the occurance of some stated future even or condition
Are Defeasible Fees Alienable, Devisable, and Descendible?
Yes
What are the 3 types of Defeasible Fees
- FSD
- FSSCS
- FSSEI
What are these?
- FSD
- FSSCS
- FSSEI
The three Defeasible Fees
What are the 4 FSD signal words?
SUWD 1. So long as 2. Until 3. While 4. During SUWD
T/F Grantor (and his heirs) retain a future interest called Possibility of Reverter for an FSD?
True, the grantor and his heirs retain a future interest called a Possibility of Reverter
What is a FSD?
it automatically ends when a stated event happens
What is a FSSCS?
a FSE that MAY be terminated at the OPTION of the grantor if a stated condition or event occurs
What future interest follows a FSSCS?
Right of Entry aka Power of Termination
What future interest follows a FSD?
Possibility of Reverter
What are the FSSCS signal words?
BPOH 1. But if 2. Provided that 3. On condition that 4. However BPOH
What is FSSEI?
FSE created in a grantee that’s followed by a future interest in a 3rd Party
What future interest follows an FSSEI?
Executory Interest
What signal words create a FSSEI?
The same words as FSD and FSSCS (SUWD/BPOH) and is followed by the words “then to”
What is a Covenant?
Effectively, the same as FSD, FSSCS, and FSSEI with a goal to prohibit the estate holder for engaging in certain types of uses, behaviors, and acts
