Transactions Flashcards

1
Q

O conveys Blackacre to A for ten years, remainder to B for life, remainder to the Church of the Seven Rays its successors and assigns, so long as the premises shall be used for church purposes.

A

O conveys Blackacre to A for ten years, remainder to B for life, remainder to the Church of the Seven Rays its successors and assigns, so long as the premises shall be used for church purposes.

Words of Purchase

  • To A
  • To B
  • To the Church of the Seven Rays

Words of Limitation

  • For ten years
  • Remainder . . . for life
  • Remainder . . . its successors and assigns as long as the premises shall be used for church purposes

8.7.3

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2
Q

O conveys Blackacre to A and his heirs, but if A shall die without issue living at her death, to the heirs of B.

8.7.3

A

O conveys Blackacre to A and his heirs, but if A shall die without issue living at her death, to the heirs of B.

Words of Purchase

  • To A
  • To the heirs of B

Words of Limitation

  • And his heirs but if A shall die without issue living at her death
  • (And her heirs)

8.7.3

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3
Q

O conveys Blackacre to A and his heirs.

A

O conveys Blackacre to A and his heirs.

Interests

  • A has a fee simple
  • O has nothing.
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4
Q

O conveys Blackacre to Greenpeace, its successors and assigns, so long as the premises shall be used for environmental purposes.

  1. 7.3
  2. 7.3
A

O conveys Blackacre to Greenpeace, its successors and assigns, so long as the premises shall be used for environmental purposes.

Interests

  • Greenpeace has a fee simple determinable which will end when the premises are no longer used for environmental purposes
  • O has a possibility of reverter in fee simple.
  1. 7.3
  2. 7.3
  3. 7.3
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5
Q

O conveys Blackacre to A and his heirs, but if the premises shall be used for the sale of drugs then O may re-enter and repossess the premises.

8.7.3

A

O conveys Blackacre to A and his heirs, but if the premises shall be used for the sale of drugs then O may re-enter and repossess the premises.

Interests

  • A has a fee simple subject to a condition subsequent
  • O has a power of termination and a right of entry
  1. 7.3
  2. 7.3
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6
Q

O conveys Blackacre to A for life.

A

O conveys Blackacre to A for life.

Interests

  • A has a life estate measured by A’s life.
  • O has a reversion in fee simple.
  1. 7.3
  2. 7.3
  3. 7.3
  4. 7.3
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7
Q

O conveys Blackacre to A for life. A transfers all A’s interest to B.

A

O conveys Blackacre to A for life. A transfers all A’s interest to B.

Interests

  • A has nothing. A transferred all A had to B.
  • B has a life estate pur autre vie. (for the life of A)
  • O has a reversion in fee simple.
  1. 7.3
  2. 7.3
  3. 7.3
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8
Q

O conveys Blackacre to A for life and in the event of A’s death to B and her heirs.

A

O conveys Blackacre to A for life and in the event of A’s death to B and her heirs.

Interests

  • A has a present possessory life estate measured by A’s life.
  • B has a vested remainder in fee simple.
  • O has nothing.
  1. 7.3
  2. 7.3
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9
Q

O conveys Blackacre to A for life, then to B and her heirs.

8.7.3

A

O conveys Blackacre to A for life, then to B and her heirs.

Interests

  • A has a present possessory life estate measured by A’s life.
  • B has a vested remainder in fee simple.
  • O has nothing.
  1. 7.3
  2. 7.3
  3. 7.3
  4. 7.3
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10
Q

O conveys Blackacre to A for life, then to B for five years.

A

O conveys Blackacre to A for life, then to B for five years.

Interests

  • A has a present possessory life estate measured by A’s life.
  • B has a vested remainder in tenancy for a term of years.
  • O has a reversion in fee simple.
  1. 7.3
  2. 7.3
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11
Q

O conveys Blackacre to A for life, then to B and the heirs of her body.

8.7.3

A

O conveys Blackacre to A for life, then to B and the heirs of her body.

Interests

  • A has a present possessory life estate measured by A’s life.
  • B has a vested remainder in fee simple.
  • O has nothing.
  1. 7.3
  2. 7.3
  3. 7.3
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12
Q

O conveys Blackacre to A for life, then to the heirs of B. B is alive.

8.7.3

A

O conveys Blackacre to A for life, then to the heirs of B. B is alive.

Interests

  • A has a present possessory life estate measured by A’s life.
  • The heirs of B have a contingent remainder in fee simple.
  • O – Depends on jurisdiction
    • If contingent remainder recognized, O has nothing.
    • If contingent remainder destroyed, O has a reversion in fee simple.

8.7.3

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13
Q

O conveys Blackacre to A for life, then to A’s children and their heirs. A has one child, B.

8.7.3

A

O conveys Blackacre to A for life, then to A’s children and their heirs. A has one child, B.

Interests

  • A has a present possessory life estate measured by A’s life.
  • A’s children have a vested remainder in fee simple subject to open.
  • B has a vested remainder in fee simple subject to partial divestment if A has more children.
  • O has nothing.

8.7.3

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14
Q

O conveys Blackacre to A for life, remainder to such of A’s issue as survive him.

A

O conveys Blackacre to A for life, remainder to such of A’s issue as survive him.

Interests

  • A has a present possessory life estate measured by A’s life.
  • Such of A’s issue as survive him have a contingent remainder in fee simple.
  • O – Depends on jurisdiction
    • If contingent remainder recognized, O has a reversion fee simple subject to defeasance.
    • If contingent remainder destroyed, O has reversion in fee simple.

8.7.3

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15
Q

O conveys Blackacre to A for life, then to A’s children and their heirs. At the time of the conveyance, A is living with two children B and C. Then A has another child D. After that A dies.

A

O conveys Blackacre to A for life, then to A’s children and their heirs. At the time of the conveyance, A is living with two children B and C. Then A has another child D. After that A dies.

Interests

  • B, C, D each have a 1/3 interest in fee simple.
  • A has nothing.
  • O has nothing.
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16
Q

O conveys Blackacre to A for life, then to A’s children who shall reach 21. A’s oldest child, B, is 17.

A

O conveys Blackacre to A for life, then to A’s children who shall reach 21. A’s oldest child, B, is 17.

Interests

  • A has a present possessory life estate measured by A’s life.
  • A’s children who reach 21 have a contingent remainder in fee simple.
  • O – Depends on jurisdiction
    • If contingent remainder recognized, O has a reversion in fee simple subject to defeasance.
    • If contingent remainder destroyed, O has a reversion in fee simple.
17
Q

After the Statute of Uses, O conveys Blackacre to A and his heirs when A marries.

8.7.3

A

After the Statute of Uses, O conveys Blackacre to A and his heirs when A marries.

Interests

  • A has a springing executory interest in fee simple when A marries.
  • O has a fee simple subject to a springing executory interest in a fee simple when A marries.

8.7.3

18
Q

After the Statute of Uses, O conveys Blackacre to B and her heirs, but if Blackacre is used for non-residential purposes, then to C forever.

A

After the Statute of Uses, O conveys Blackacre to B and her heirs, but if Blackacre is used for non-residential purposes, then to C forever.

Interests

  • B has a fee simple subject to a shifting executory interest in C if Blackacre used for non-residential purposes.
  • C has a shifting executory interest in fee simple if Blackacre is used for non-residential purposes.
  • O has nothing.
19
Q

O conveys Blackacre to A and B as joint tenants. B dies leaving an heir H.

A

O conveys Blackacre to A and B as joint tenants. B dies leaving an heir H.

Interests

  • A has a fee simple.
  • H has nothing
  • O has nothing

8.7.3

20
Q

O conveys Blackacre to A, B, and C and their heirs. A dies leaving an heir H.

A

O conveys Blackacre to A, B, and C and their heirs. A dies leaving an heir H.

Interests

  • B, C, and H are tenants in common, each with an undivided 1/3 interest in Blackacre in fee simple.
  • O has nothing.
  • A is dead.

8.7.3

21
Q

O conveys Blackacre to A and B as Joint tenants. A transfers A’s interest to C.

A

O conveys Blackacre to A and B as Joint tenants. A transfers A’s interest to C.

Interests

  • B and C are tenants in common with each having a 1/2 undivided interest in fee simple.
  • A has nothing.
  • O has nothing.
22
Q

O conveys Blackacre to A, B and C as joint tenants. A then conveys her interest to D. Then B dies leaving an heir H.

A

O conveys Blackacre to A, B and C as joint tenants. A then conveys her interest to D. Then B dies leaving an heir H.

Interests

  • D has an undivided 1/3 interest in fee simple as a tenant in common with C.
  • C has an undivided 2/3 interest in fee simple as a tenant in common with D.
  • O, A, H have nothing.
  • B is dead.

8.7.3

23
Q

O conveys Blackacre to A and B as Tenants by the Entirety. At the time of the conveyance A and B are engaged to be married. Three months later they marry.

8.7.3

A

O conveys Blackacre to A and B as Tenants by the Entirety. At the time of the conveyance A and B are engaged to be married. Three months later they marry.

Interests

  • A + B each have an undivided 1/2 interest in fee simple as tenants in common.
  • O has nothing.

8.7.3

24
Q

In Hawaii after the Sawada case, Blackacre is held by H and W as Tenants by the Entirety. H and W are married. H gets into debt and a creditor of H, X, sues H to reach Blackacre to satisfy the debt. Will X succeed? Why or why not?

8.7.3

A

In Hawaii after the Sawada case, Blackacre is held by H and W as Tenants by the Entirety. H and W are married. H gets into debt and a creditor of H, X, sues H to reach Blackacre to satisfy the debt. Will X succeed? Why or why not?

No, the creditor, X, will not succeed. In Hawaii, after the Sawada case, the H is in the same position as the W was at common law. At common law, the W could not alienate her ½ undivided interest in the whole in Blackacre. Since a creditor can only “go after” property that a debtor spouse could alienate, and since the H is now treated in Hawaii for debtor-creditor purposes the same as the W under common law, H may not unilaterally alienate Blackacre and the creditor of H cannot “go after” Blackacre to satisfy the debt owed by the debtor spouse H.

25
Q

In New York, Blackacre is held by H and W as Tenants by the Entirety and H and W are married. W gets into debt and a creditor of W, X, sues to reach Blackacre to satisfy W’ debt. Will X succeed? Why or why not?

A

In New York, Blackacre is held by H and W as Tenants by the Entirety and H and W are married. W gets into debt and a creditor of W, X, sues to reach Blackacre to satisfy W’ debt. Will X succeed? Why or why not?

Yes. X will succeed. New York courts put the W in the same position as the H was in at common law. Since, at common law, the H could alienate property held by H and W in a tenancy by the entirety of the creditors of W can “go after” W’s interest in Blackacre except for W’s right of survivorship.