The Finite Estates Flashcards
What is a life estate pur autre vie?
A life estate measured by the life of another.
What is a life estate?
The interest is given for the life of the grantee.
Life estate hypos:
1) “to A for life”
2) “for the lives of A and B”
3) “to A for the Life of B”
4) “ to B for life” then B transfers his interest to A
1) A has ownership based on As life.
2) ownership until the death of the survivor
3) life estate measured by B’s life
4) A has ownership based on the length of Bs life.
What is a Fee Tail?
Fee tail male
Fee tail female
A conveyance that limits inheritance to lineal descendants and can be restricted to a class.
Fee tail male: O conveys to A and the male heirs of her body
Fee tail females: O conveys to A and the female heirs of her body.
How can a fee tail be transferred?
Neither devisable nor inheritable
If there is no lineal descendants:
It goes to 1) grantor in a reversion 2) a third party remainder man
Modern view of fee tails:
What states still allow fee tails?
How do other states treat it?
DE, MA, RI allow for a fee tail. They also allow for a fee tail to be converted to an FSA by deed executed in life, but my in death.
Other states have abolished FT all together. The transfer of FT creates a FSA. Also allows for the breaking of the tail by transfer to a straw man who takes the title, then transfers it back with clean title.
What is a Term of Years?
It is a nonfreeholder estate which has a finite duration that is calculable on the day the interest is created. The end date must also be calculable at the beginning of the term.
Can a term of years be transferred?
Yea, it is freely transferable, devisable, and inheritable for the time allotted.
