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13 Cards in this Set
- Front
- Back
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What are the three kinds of fee simple defeasibles?
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1) fee simple determinable
2) fee simple subject to condition subsequent 3) executory interest |
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What's the big difference between fee simple determinables and fee simple subject to condition subsequents, and executory interests?
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The first ones have the future interest in the grantor, and executory interests have the future interest going to someone else, a third prty.
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What is a fee simpe determinable?
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- fee simple defeasible
- future interest held in grantor - terminates automatically on an express qualifying condition - "as long as," "until," "during," "while" |
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What is a fee simple subject to a condition subsequent?
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- fee simple defeasible
- future interest held in grantor - grantor has option to retake property upon qualifying condition - "but if," "however if," "provided that" |
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In a fee simple subject to condition subsequent, what power or right does the grantor have?
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- right of entry, right to re-enter
- power of termination |
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O --> to A and her heirs, but if A sells alcohol on the land, then O has the right to re-enter and reclaim the land.
State the title |
- A has a FSSCS
- O has a right to re-entry, or power of termination |
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O --> to A and her heirs, so long as A doesn;t sell alcohol on the land
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- A has a FSDeterminable
- O has a possibility of reverter |
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What is a fee simple subject to executory limitation?
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- a fee simple defeasible
- future interest in a third party |
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What is the future interest in a fee simple subject to executory limitation?
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an executory interest
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What is the future interest in a fee simple determinable?
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a possibility of reverter
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What is the future interest in a fee simple subject to condition subsequent?
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a right of entry, or power of limitation
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What is a shifting executory executory interest?
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a future interest in a fee simple subject to executory limitation, whereby the right of possession is being taken from another third party and not the grantor.
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What is a springing executory interest?
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a future interest in a fee simple subject to executory limitation, whereby the right of possession is being taken from the grantor
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