• Shuffle
    Toggle On
    Toggle Off
  • Alphabetize
    Toggle On
    Toggle Off
  • Front First
    Toggle On
    Toggle Off
  • Both Sides
    Toggle On
    Toggle Off
  • Read
    Toggle On
    Toggle Off
Reading...
Front

How to study your flashcards.

Right/Left arrow keys: Navigate between flashcards.right arrow keyleft arrow key

Up/Down arrow keys: Flip the card between the front and back.down keyup key

H key: Show hint (3rd side).h key

A key: Read text to speech.a key

image

Play button

image

Play button

image

Progress

1/54

Click to flip

54 Cards in this Set

  • Front
  • Back
fee simple: what is it?
potential to endure forever
O grants land to A and A's heirs.
fee simple: example grant
life estate example
to A for life
fee simple absolute: three qualities
potential to endure forever, no limitations on inheritability, cannot be divested
words of purchase
words that identify the person in whom the estate is created
words of limitation
words that describe the type of estate created
O grants land to A in fee simple: common law vs. modern times
at common law, these words considered to be a life estate, but presumption in moderm time is a grant of the largest estate the grantor owned. Lawyers still use the common law language anyway.
defeasible fee defined
a fee that can spring, shift, revert, etc. on the happening of some event
fee simple determinable defined
a fee simple estate that will automatically end when some specified event happens. Possibility of enduring forever.
fee simple determinable example
O to A so long as it doesn't sell vibrators made of vinyl. What is this?
O to A so long as it doesn't sell vibrators made of vinyl. Who gets property if that happens?
Example of a property grant that automatically reverts to O.
other names for a fee simple determinable
fee simple on a special limitation, fee simple on a conditional limitation, base fee
To A so long as, to A until, to A while…
words of limitation creating a fee simple determinable
words of motive or purpose, like "to A for a hospital"
though these words may have a subjective intent of creating a fee simple determinable, they won't be construed that way by a court
grantor's future interest in a fee simple determinable
definition of a possibility of reverter
fee simple subject to condition subsequent, defined
a fee simple that does not automatically revert but may be divested at the grantor's election when a stated condition happens
O to A, but if vinyl vibrators are ever sold on the premises, O has a right to reenter the premises.
Example of a fee simple subject to condition subsequent
words of condition
words that describe the condition upon which a grantor can exercise a right of reentry
to A, but if x event happens… to A, upon condition that if X event happens… to A, provided, however, that if X event happens…. the grantor has a right of entry
words of condition creating a fee simple subject to condition subsequent
the future interest created by a fee simple subject to condition subsequent
right of entry, defined
construction of ambiguous grant with language indicating both a fee simple determinable and a fee simple subject to executory limitation?
general policy is to avoid forfeiture of estates, so the preferred construction between these two options is that of a fee simple subject to condition subsequent
O to A so long as it doesn't sell vinyl vibrators, but if A sells vinyl vibrators, O has a right of reentry.
Despite the language indicating both a fee simple determinable and a fee simple subject to condition subsequent, the preferred construction of this example would be the fee simple subject to condition subsequent, because equity abhors a forfeiture.
Statute of limitations on AP and the fee simple subject to condition subsequent
Two options depending on jurisdiction. 1. The statute doesn't start running until grantor exercises right of reentry. (Laches doctrine can still cut this short, however.) 2. Statute starts running upon happening of condition, allowing grantee to take via adverse possession.
Fee simple subject to an executory limitation, defined
A fee simple that on the happening of a stated event is automatically divested in favor of a third person. (not possible to expressly create a right of reentry for the third party in this grant, but a grantor can instead create a fee simple subject to condition subsequent, and give the right of entry to the third party, accomplishing the same thing)
O to A, but if Unzipped magazine is ever sold on the premises instead of Playgirl, then to B.
Example grant for a fee simple subject to an executory limitation.
“To A, but if X and Y marry then to B.” (Remember the 'S' word!)
Example of shifting fee simple subject to executory limitation
“To B after X and Y are married," nothing that this language means O has a fee simple subject to executory interest. (Remember the 'S' word!)
Example of springing fee simple subject to executory limitation
Life estate defined
an estate with the duration of one or more human lives
Life estate for the life of grantee example
"To A for life"
Life estate per autre vie defined
an estate measured by the life duration of someone other than the owner
life estate per autre vie: two means for creation
1. the grantor expressly creates it 2. the grantee sells her life estate to someone else
Construction of life estate left to group of people for the duration of their lives: what happens to share of property of first person to die?
In this situation, the share typically goes to the surviving life tenants, and the remainder does not become possessory until all of the life tenants die.
Can you combine a life estate with other types of grants?
Life estates can be created to be determinable, subject to condition subsequent, or subject to executory limitation. For example, "O to A for life, but if A ever sells vinyl vibrators on the premises, then to B." A has a life estate subject to an executory limitation. These are all called limited life estates.
Waste defined
conduct by the life tenant that permanently impaires the value of the land or the interest of the person holding title or having some subsequent estate in the land.
Affirmative/voluntary waste defined
actively causing permanent injury to land or subsequent estate interest
Permissive/involuntary waste defined
allowing, but not actively causing permanent injury to land or subsequent estate interest
Ameliorating waste defined
Changes to land that increase the value of the subsequent estate interests. Without permission of the remainderment, often requires impending wipe out, lack of any contractual or grant provision stating otherwise, and/or a complete change to the surroundings, at least, to avoid getting sued by remaindermen.
executory interest vs. a reverter or possibility of reverter
the first is a future interest for a third party, the latter is the future interest for a grantor
reverter vs. possibility of reverter vs. right of entry
A right of entry is created by a fee simple subject to condition subsequent. The difference between a reverter and a possibility of reverter is very confusing, but usually, the possibility of reverter is just that, a possibility, whereas a straight-up reverter is guaranteed to occur. (In confusing terms, conveying an interest of the same quantum creates a reverter, and of a lesser quantum creates a possibility of reverter, with the priority of quantums going as follows, beginning with the highest: all fees simple, fee tail, life estate, leasehold.)
remainder vs. executory interest
These are future interests retained by third parties. A remainder never divests the prior estate (kiboshes someone else's ownership) whereas an executory interest almost always does.
What's the alienability of reversions, possibilities of reverter, and rights of entry
All currently transferable, descendible, and devisable, with the exception of rights of entry, which some courts have held to not be transferable inter vivos (some courts even destroyed the right upon attempt to transfer).
A remainder is either _________ or _____________
A _____________ is either vested or contingent.
A vested remainder can be (three options)
A ____________ can be indefeasible, subject to open, or subject to divestment.
Future interests in grantees include ________, _________, and the three types of _________.
________________ include contingent remainders, executory intersts, and the three types of vested remainders.
Difference between a remainder and an executory interest?
The first waits patiently for the preceding possessory estate to expire, while the latter can trigger to divest prior interest before any natural expiration. (Question was: Difference between a ____________ and ________________ ?)
A remainder can NOT follow ____________, it can follow ________________.
A ______________ can NOT follow any form of fee simple (e.g. subject to an executory limitation, determinable, etc.), it can only follow a fee tail, a term of years, or most commonly, a life estate.
A remainder must be classified as (two options, and explain them both)
A remainder must be classified as either vested or contingent. A vested remainder is created in an ascertained person AND not subject to any condition precedent. A contingent remainder is either created in an unascertained person or subject to a condition precedent. In ther words, contingent remainders are based on a contingency, vested remainders are not.
Condition precedent (defined)
An express condition attached to a contingent remainder. (This definition refers to a _____)
Only one of these grants creates a possibility of reverter for the grantor. Which one is it? 1.) O to A for life, then to B, but if B does not survive A, to C. 2.) O to A for life, then to B if B survives A, but if B does not survive A, to C.
The first grant creates a vested interest subject to divestment for B (it can be divested by C's contingent remainder), and the fact that B's remainder is vested means that it's going to end up in somebody's hands no matter what. The second grant creates alternative contingent remainders, and if neither of the contingencies are met, the property reverts to O. (If, for example, A and B die at the same time, the property goes to C in the first grant, and to O in the second.) If this all seems really nutty to you, just remember to classify the interests in sequence as you read along.
Which construction is preferred? A vested remainder or contingent remainder?
Vested remainders are preferred over contingent remainders.
"O conveys to A for life, and at his death to A's children, the child or children of any deceased child to receive his or their deceased parent's share." Name the grants.
Go in order. A gets a life estate. A's kids get a vested remainder. (It's vital that you paused at the comma to parse out that it was a vested remainder.) The part after the comma creates a contingent remainder for the grandchildren, vesting if their parents die before A. This contingent remainder thus makes A's children's vested remainder subject to divestment. Because we're dealing with a condition subsequent (the reason A's children have a vested remainder rather than a contingent one) A's children do not necessarily get divested if they die before A--if they die without children, their vested remainder will instead go to their heirs.
Springing vs. shifting executory interests?
Springing executory intersts spring from the grantor, shifting ones shift from a third party grantee.
Condition precedent vs. condition subsequent?
I had trouble with this one, but as far as I can tell, a condition precedent is part of the clause creating what will turn out to be a contingent remainder, whereas a condition subsequent comes in a later clause and serves to potentially divest the estate created in an earlier clause AND create a contingent remainder for somebody else. Or something.
If the future interest follows a _______________, it must be an executory interest.
If the future interest follows a fee simple, it must be an ____________ . (This is because a fee simple can potentially endure forever--for it to be divested, some condition must take place, and since remainders by definition do not divest their ancillary estate interests, the only possibility is for it to be called an ________________ .)