Topic 6 - Estates

Question 1

Define fee simple

Answer 1

Fee - estate is inheritable

Simple - Unrestricted character of those who may inherit

Question 2

Define life estate sa vie

Answer 2

The appropriate words of limitation are words that evince an intention to confer an estate which is limited by a life

Question 3

Define life estate pur autre vie

Answer 3

The appropriate words of limitation set out that it is to exist for the duration of a third person’s life

Question 4

Define remainder

Answer 4

Express grant of a future interest to a person not previously entitled to the estate

Question 5

Define reversion

Answer 5

Residue of a grantor’s estate when he or she has granted a lesser portion of the interest to another person

Question 6

Define conditions subsequent

Answer 6

A grant of an estate which has a conditions subsequent attached so that the grant may be cut short

Question 7

Define vested interest

Answer 7

A vested interest is one that is bound to take effect in possession at some future date

Question 8

Define contingent interests

Answer 8

A contingent interest is an interest that is not vested in title and is subject to contingency which prevents the interest from vesting in title.

Question 9

Define the nemo dat quod non habet rule

Answer 9

A person cannot convey an interest to somebody else when the conveyor does not have an interest themselves