Present Possessory Estates
Future Interests
Rule Against Perpetuities
Miscellaneous
100
"O to A provided that A graduates law school." A has what present possessory estate?
What is a Fee Simple Subject to Condition Subsequent. Words of Purchase: "to A" Words of Limitation: "provided that..."
100
This future interest follows a Fee Simple Determinable
What is a possibility of reverter.
100
The underlying principle behind the Rule Against Perpetuities is to prevent this type of control.
What is "Dead Hand Controls."
100
O comes into your office expressing his intent to convey Blackacre to his friend, A. However, O really cares about Blackacre, and he only wants it to be used for the purpose of recreational activities, and he wants the property to return to him if it is not used for that purpose. Furthermore, O's a busy person, so he doesn't want to have to affirmatively act in order to get the property back from A. Create a conveyance best reflecting O's intent.
O to A so long as A uses Blackacre for recreational activities.
200
Regarding the characteristics of a life estate ("O to A for life"), the estate is neither _________ nor _________, but it is __________.
It is Neither Descendible nor Devisable It is Alienable/Transferrable
200
O conveys to Cranberry for life, then to Ellen and her heirs. What type of interest does Ellen have?
What is an indefeasibly vested remainder.
200
RAP applies in these three future interest cases:
What is Contingent Remainder, Vested Remainder Subj. to Open, and Executory Interest
200
True or False: Where ambiguity is present, the default estate is Fee Simple Absolute.
True.
300
O to A for life. A conveys to B. O dies and A dies. Name the estate that each party (or their heirs) holds.
O's heirs: FSA A's heirs: Nothing B: Nothing O conveyed "A" a life estate. (WoP: "for life"). O retained a reversion. A life estate is transferrable, so "A" can transfer his life estate to B. B now has a life estate for the duration of "A's" life because "A" can only transfer what he has. When "A" died, his life estate ended, B's interest ended, and the land reverted back to O's heirs. O's heirs have FSA.
300
An executory interest that divests the transferor is called a ______ executory interest. An executory interest that divests the transferee is called a ______ executory interest.
What is Springing, Shifting.
300
True or False: RAP applies to O's future interest.
What is False
300
O conveys Blackacre to A for life. A conveys to B. O dies. Name each party’s interest.
O: O’s heirs has a reversion A: Nothing B: B has a life estate for the duration of A’s life.
400
O to A provided that A marries B, but if A chooses not marry B, then to C. Name each party's interest.
O: Nothing A: Fee Simple Subj. to Executory Limitation C: Shifting Executory Interest
400
This type of interest can divest a prior estate.
What is an Executory Interest
400
O conveys to a school district so long as the property is used for a school building, then to A. Analyze the validity of this condition under RAP.
Interest- A has EI. Lives in Being- O and A. Create- Babies are born, no effect on condition Kill- O and A. Count to 21: We still are uncertain as to whether the school will stop using the property as desired, so RAP invalidates the condition, and the school district has FSA.
400
O to A for life, then to A's grandchildren. A has one grandchild. Name each party's interest.
O: Nothing A: LE A's grandchildren: Vested Remainder Subject to Open
500
O conveys to A for life, then to B’s children. B has one child currently.
O: Nothing A: LE B’s children: Vested Remainder Subj. to Open.
500
O conveys to A so long as A continues law school, then to B. Name each party's interest.
O: Nothing A: FSSEL B: Shifting Executory Interest
500
O conveys to A for life, then to B if B attains the age of thirty. Analyze B’s interest under RAP.
I - B’s contingent remainder subject to RAP. L- O, A, and B Create- Created children here do not change the interest at issue. Kill- O, A, and B die. At the time of B’s death, we will know whether the condition has vested, or whether B attained age thirty, so there’s no reason to count here. Valid condition under RAP.
500
This future interest can be waived if not affirmatively used after a reasonable time. Name the future interest and explain why it is can be waived.
Right to Re-enter/Power of Termination Grantor has a great deal of uncertainty, stifling economic benefit; Also, the longer we wait, evidence of the condition being met can be lost.
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