W7 VOCAB

Question 1

Tenants in common

Answer 1

: each tenant equally entitled to possession; an undivided interest in the whole; each tenant’s interest is alienable, devisable by his will, and descendible to heirs should he die intestate; without regard to time or written instrument; equal interest not necessary. Presumed by the courts if no language to the contrary. Complete I/D/A

Question 2

Joint Tenancy with Right of Survivorship

Answer 2

: No I/D…A can be done unilaterally by any co-tenant and destroys joint estate as to that party.

Question 3

Concurrent Estate

Answer 3

: Numerous individuals can share ownership of any given estate. Marital and these types of estates deal with multiple parties having the same rights in a given consecutive estate or interest.

Question 4

Tenancy by the entirety

Answer 4

Only exists between married couples and generally no unilateral action by either spouse can effect the estate, thus no individual I/D/A. Not recognized in every jurisdiction, Includes a right of survivorship, Limits spouses unilateral action detrimental to the estate, Limits creditors access to the estate.

Question 5

Disentail

Answer 5

This converts a fee tail estate into a fully alienable fee simple estate.

Question 6

Lineal descendants (or issue)

Answer 6

children, grandchildren, greatgrandchildren, greatgreatgrandchildren, etc

Question 7

Issue

Answer 7

a person’slineal descendants, children, grandchildren, greatgrandchildren, greatgreatgrandchildren, etc.

Question 8

Ancestors

Answer 8

a person’slineal ascendants, parents, grandparents, etc.

Question 9

Collaterals

Answer 9

a person’s brothers and sisters and nieces, nephews, aunts, uncles and cousins.

Question 10

Divestment

Answer 10

An act that results in termination of a property right, such as changing the beneficiaries of a trust.

Question 11

Dower

Answer 11

widow’s right to a life estate (in 1/3rd of husband’s inheritable fee/fee tail property not held in joint tenancy.)

Question 12

Curtsey

Answer 12

widower’s right to a life estate in all of wife’s freehold property.

Question 13

Destructibility of Contingent Remainders

Answer 13

If a contingent remainder did not vest before, or at the time of, the termination of the preceeding freehold estate, it was destroyed, and the property reverted back to the grantor.