Life Estates/Future Interest
Conveyance for a specified number of years
Future interest for Transferor: reversion
Future interest for Transferee: contingent or vested remainder
Term of Years
Conveyance for the life of another
Life Estate Put Autre Vie
A conveyance followed by an automatic forfeiture occurs in the event of the condition's breach
Fee Simple Subject to Executory Limitations
O to A, but if he stops driving a Ford, then O has right to re-enter
O: Right of Entry
A: Fee Simple Subject to Condition Subsequent
O → A for life, then to A's grandchildren. Valid or void?
Void, gift to grandchildren vests too remotely
Conveyance for the life of the person it is conveyed to
Future interest for Transferor: reversion
Future interest for Transferee: contingent or vested remainder
Life Estate
Future interest in 3rd party that divests prior grantee's interest upon a specified condition
Shifting executory interest
O to A for life, then to B, but if B fails to turn 21, then to C
O: Nothing
A: Life Estate
B: Vested Remainder Subject to Executory Limitation
C: Executory Interest
O → A for life, then to A's children who reach 25. Valid or void?
Void because age is above 21 years from A's death
Conveys all interest in land
Future interest for Transferor: None
Future interest for Transferee: None
Fee Simple Absolute
Interest in a 3rd party that is unascertained or requires condition precedent
Future interest for Transferor: reversion
Future interest for Transferee: contingent
Contingent Remainder
Future interest in 3rd party that divests prior grantor's interest upon a specified condition
Springing executory interest
O to A for life, then to A's children who survive A and their heirs, but if A dies with no child, then to B's children and their heirs
O: Reversion
A: Life Estate
A's children: Contingent Remainder
B's children: Alternative Contingent Remainder
O → A for life, then to A's first child to reach 27. A has one child, B, who is 28. Valid or void?
Valid because it is fully vested at time of conveyance
Conveys interest through clear durational language
Future interest for Transferor: Possibility of Reverter
Future interest for Transferee: Executory Interest
Fee simple determinable
Interest in a 3rd party that is ascertained or and does not require condition precedent
Future interest for Transferor: nothing
Future interest for Transferee: executory interest
Vested Remainder
No interstate is good unless it must vest, if at all, not later than 21 years after some life in being at the time of creation
Rule Against Perpetuities
O to A so long as she works at McDonalds
O: Possibility of Reverter
A: Fee Simple Determinable
O → A for life, then to B and her heirs if B reaches 25. B is now 5. Valid or void?
Valid, will know within A's lifetime if B has reached 25
Conveyance is based on a condition
Future interest for Transferor: right of entry
Future interest for Transferee: executory interest
Contingent remainders are destroyed if they did not vest upon the natural termination of the life estate
Destructibility Doctrine
Fully vest when they are no longer subject to open (class is closed)
Vested remainder subject to open
O to A for life, then to B and her heirs, but if C becomes President, then to C and her heirs
O: Nothing
A: Life Estate
B: Fee Simple Subject to Executory Limitations
C: Executory Interest
O → A for life, then to A's widow for life, then to A's children then living. Valid or void?
Void because vests too remotely because we won't know 21 years after A dies if the widow also dies and the children outlive the widow