Estates
"O to A." or "O to A and her heirs."
Fee simple absolute
"O to A for life."
Life estate
For a . . . to be valid under . . . it MUST vest within a known life (alive/in utero) at the time of grant, plus 21 years.
Future interest under the rule against perpetuities (RAP)
"O to A as long as used for residential purposes."
Fee simple determinable
Denial of a claim for property in a FSS CS case due to the claim being brought unreasonably long after condition not met. "Estoppel" by _____.
Laches
What does the RAP prevent?
Dead hand control
"O to A as long as used for residential purposes. O has right of entry."
Right of entry begins as soon as condition met/not met and expires if not exercised in a reasonable time.
Fee simple subject to condition subsequent
"O to A if the sun rises tomorrow."
The sun WILL rise.
Fee simple subject to condition subsequent with a vested remainder.
A "known person" is:
A live person or a person known to be in utero.
Unknown persons is a red flag. "O to A for life, then to A's children who reach 25"-- A could keep having kids!
"O to A, then to B if B graduates from law school." OR "O to A as long as used for residential purposes; then to B."
Transfers to B if condition met/not met.
Fee simple subject to executory limitations
"O to A if John graduates from law school."
John may or may not graduate.
Fee simple subject to condition subsequent with a contingent remainder.
Is this valid, and why?: O to A, but if A seeks to develop land, then to B.
(FSS EL. Lives in being A + B. Creation of interest when trust signed.)
Yes.
Interest vests when A seeks to develop land. A cannot seek to develop land if they are dead."To B's children."
Even if B is 90, they can still have more children!
Vested remainder subject to open
Right of exclusive possession, duty to not commit waste/alter property in a significant way, responsibility to pay taxes, mortgages, and keep property in good care.
Is this valid, and why?: O to A for life, then to A's children who reach 25.
(LE w/ vested remainder subject to open. Lives in being are A and A's children.)
No.
A could die and then have a child 9 months after (if he is a man). This child would exceed the RAP as soon as they turn 21.