Voluntary Redistribution of Rights, by Gift and Sale Flashcards
What type of restraints are allowed for fee simple estates?
Partial restraints on alienation
Do nonfreeholds have seisin? What is seisin?
No. An individual who is “seised” of an estate is the owner of the estate.
How can estates be made defeasible?
By a “special” limitation: “during”, “while”, “for so long as”, “until”
finish later
O conveys “to A for life, then to B and her heirs.” Does O have a RVN (reversion)?
No
Assuming the usual modern default rules, O conveys “to A for life, then to B.” Does O have a RVN (reversion)?
No
O conveys “to A for 20 years.” Does O have a RVN (reversion)?
Yes
O conveys Blackacre “to A for life, then to B for life.” O dies leaving a will which devises “all my property to C and his heirs.” What does C have?
Reversion. Because O had an interest which was reversion, O dies and passes his interest onto C and that was a transmissible interest and therefore C gets something. C gets what O had- he does not get a new thing.
O conveys Blackacre “to A for life, then to B for life, then to C and C’s heirs.” A dies, B dies. Who takes? Did that person have a reversion?
C is the next taker
If terms say to “B for life, starting at A’s death.” (The facts give nothing to A) Before 1536, B gets?
Nothing
To “A for life, but if A becomes bankrupt to A’s children immediately.” A has 2 children. Before 1536, A’s children get?
Nothing
To “A for life or until A becomes bankrupt, then to A’s children immediately.” A has 2 children. Before 1536, A’s children get?
They get a remainder
To “A and A’s heirs until A drinks liquor, then to B.” Before 1536, B gets?
Nothing
To “A for life then to B and B’s heirs, but if B does not marry C by the time A dies then to C and C’s heirs.” What does B have?
B has a vested remainder in fee simple
What are the 2 inter vivos (during life) Voluntary Redistributions of Rights?
Gift and Sale
What are the 2 types of gifts?
- Ordinary gift
2. Gift causa mortis
