Vocabulary Flashcards
Decedent
a dead person
Devise and Devisees
Devise is to pass real property by will. Devisee are beneficiaries under the will
Heir
People who inherit real property from decedent who dies intestate. They are identified by statute in each state. Typically a person’s spouse or children. They are determined at the time of death.
Bequest and Bequeath
Bequeath is to pass personal property by will. Bequest is the name of the property itself,
Issue
A persons lineal descendants all the way down the line until the bio line dies out
Ancestors
A persons biological forebears all the way up the line
Collaterals
All blood relatives other than issue or ancestors. Including siblings, cousins, aunts, uncles
Escheat
Passing the interest in land to the state when a decedent has no heirs or devisees
Convey
Transferring land to another person through sale or gift
Possessory estate
The owner of right to possess the land now, in the present
Future interest
The owner of right to possess the land in the future
Fee simple
No inherent ending. The owner can keep it forever or devise it to someone to keep forever.
Words of purchase
Refers to conveyance and identifies the grantee.
Words of limitation
Tell you if any limitations exist
Fee Tail
Subject to restrictions. Land automatically passes to the issue, the land cannot be sold by the current possessor
