Who gets what?
What instrument do you use to transfer property during life?
Deed (grantor --> grantee)
Name the three types of future interests that can be held by a transferor.
(1) Reversion
(2) Possibility of Reverter
(3) Right of Entry
Name the two types of remainders (broadly).
Name the two types of executory interests.
1. Springing
2. Shifting
What doctrine converts "to B for life, then to B's heirs " into a fee simple?
Rule in Shelley's Case
What happens to a transfer of property in a will that has ambiguous language?
(1) court will interpret transferor's intent
(2) if cannot be determined, the rule of construction applies
When does O have a reversion?
Following a life estate / fee tail / term of years.
Elements of a remainder
A future interest that:
(a) is created in the same conveyance as the preceding estate;
(b) given to an ascertainable person;
(c) NOT subject to a condition precedent
What type of fee does an executory interest always follow?
A defeasible fee!
Under the doctrine of worthier title, what is O's future interest here: O grants "to B for life, then to O's heirs."
Reversion in O
Define intestate.
Dying without a will
When does O have a possibility of reverter?
Bonus: Give an example.
Following a fee simple determinable.
Bonus: O "to B as long as he remains a lawyer"
Name the three types of Vested Remainders.
Bonus: Can you given an example of each?
(1) Indefeasibly Vested
(2) Vested Subject to Divestment
(3) Vested Subject to Open
Whose interest is divested in a springing executory interest?
Bonus: Can you give an example?
Grantors!
Bonus: "to B for life, then on year after B's death, to D"
The doctrine of destructibility of contingent remainders takes away a future grantee's rights if what happens?
They do not meet the condition precedent at the time of the predecessors death.
Who gets property when a descend dies intestate? Can you name the order?
Heirs!
Issue + Surviving Spouse --> Parent's --> Parent's Issue --> Ancestors & Collaterals --> Escheat
When does O have a right of entry?
Bonus: What are the limitations to right of entry?
Following a fee simple subject to condition subsequent.
Bonus: O has to ability to enter, but must do so within a reasonable time ; does not automatically transfer interest back
Bonus: Can you give an example of each element?
created when:
(a) given to an unascertainable person
Bonus: "to B for life, then to the heirs of D" (D is alive)
(b) subject to a condition precedent
Bonus: "to B for life, then to D if D becomes president"
Whose interest is divested in a shifting executory interest?
Bonus: Can you give an example?
Bonus: "to B and heirs until humans land on Mars, then to D"
It can vest within 21 years after life in being at creation.
Bonus: what is 'life in being at creation?'
What is a holographic will?
A will that is entirely handwritten and signed.
When does O no longer have ANY future interest?
When O grants a fee simple absolute.
What is the limitation of a grantee when holding a contingent remainder (that is subject to a condition precedent?)
The condition precedent MUST be met before vesting to obtain interest.
Ex. "to B for life, then to D if D becomes president" --> D MUST become president BEFORE B's life estate ends to obtain the property
What is the commonality between Remainders and Executory Interests?
They are granted to a 3rd party! (not O or the predecessor)
Which future interest(s) does RAP apply to?
ONLY applies to:
(1) contingent remainders
(2) Executory Interests
(3) Vested remainders subject to open