ESTATE OF MIND
"To Alice for life, then to Bob."
What is a life estate followed by a vested remainder?
The deed "to A and his heirs until the land is no longer used for residential purposes" creates this estate.
What is a fee simple determinable?
This type of deed contains the broadest warranties of title.
What is a general warranty deed?
The Rule Against Perpetuities requires certain future interests to vest, if at all, within this period.
What is lives in being plus 21 years?
A subdivision requires all homes to be used only for residential purposes is this kind of servitude.
What is a restrictive covenant?
O conveys "to A, unless alcohol is ever sold on the property."
What is a fee simple determinable and a possibility of reverter?
A deed conveys "to A if A graduates from law school, but if not, to B," without stating who owns the property before the condition is satisfied. The grantor has unintentionally created this interest.
What is a reversion?
A quitclaim deed promises this many warranties about title.
What is zero (none)?
A person is considered fertile for RAP purposes until this point.
What is death?
For the burden of a real covenant to run at law, one requirement is that the original parties intended this.
What is that the covenant run with the land?
The conveyance "to A, but if A ever stops using the property as a farm, then to B" gives B this interest.
What is a shifting executory interest?
A deed conveys Blackacre to "A and B" but never specifies the form of co-ownership. At common law, this estate is presumed.
What is a tenancy in common?
A buyer can acquire this to check and guarantee that they are purchasing a property with clear title
What is title insurance?
This type of future interest is never subject to the Rule Against Perpetuities.
What are those held by the grantor?
At common law, the burden of a real covenant traditionally required this relationship between the original covenanting parties.
What is horizontal privity?
This future interest remains in the grantor after conveying a life estate without naming a remainder.
What is a reversion?
The deed reads: "to A for life, remainder to B's children," but B has no children. The drafter has created this type of future interest.
What is a contingent remainder?
Once O conveys Blackacre to A, O generally lacks this legal power over Blackacre.
What is the power to convey valid title to another purchaser?
Under the common law, the validity of a future interest is determined at this point in time.
What is the moment the interest is created?
A covenant created by an oral agreement generally fails because it does not satisfy this doctrine.
What is the Statute of Frauds?
The conveyance "to A for life, then to A's children" creates this type of future interest in A's existing children.
What is a vested remainder subject to open in fee simple absolute?
A deed grants "to A's heirs." Because A is still alive, the conveyance fails under this common-law principle.
What is Nemo est haeres viventis ("no one is heir to the living")?
This future covenant obligates the grantor to defend the grantee's title against lawful claims.
What is the covenant of warranty?
The conveyance "to A for life, then to A's children who reach age 30." A has one child, age 5. Under the common law, the gift fails because of this possibility.
What is that A could have another child who reaches 30 more than 21 years after A's death?
A deed prohibits commercial use, but the restriction was never recorded. The purchaser knew about it before closing. The covenant is enforceable because the purchaser had this.
What is notice?