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34 Cards in this Set
- Front
- Back
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What language creates a fee simple absolute interest in property? |
A conveys Blackacre to B and his heirs. |
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What words are used to create a fee simple determinable? |
Look for "until" "while" or "as long as" i.e. A conveys Blackacre to B and his heirs as long as drugs are not sold on the property. |
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What happens if the triggering event in a fee simple determinable occurs? |
Automatic reversion to the grantor. |
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What words are used to create a fee simple subject to condition subsequent? |
Look for "but if" "provided that" or "on condition that" i.e. A conveys Blackacre to B but if drugs are sold on Blackacre A has right of re-entry. |
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What is a fee simple subject to executory interest? |
Similar to a fee simple subject to condition subsequent except that instead of a reversion to the grantor the property passes to a third party. i.e. A conveys blackacre to B but if drugs are sold on the property then to C and his heirs. |
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What language does a fee tail include? |
Words of limitation, i.e. A conveys Blackacre to B and the heirs "of his body." Limits inheritance to a particular group of descendants. |
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What are the types of freehold estates? |
Fee simple Fee Tail Life Estate |
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What words create a life estate? |
A conveys Blackacre "to B for life" |
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What is a life estate 'pur autre vie' |
"for other's life" i.e. A conveys Blackacre to B for for the life of C. When C dies the property reverts to A from B. |
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Common law life estate as a matter of law: |
Dower: widow gets a life estate to 1/3 of the deceased husband's estate Curtesy: widower gets a life estate in all of the deceased wive's estate |
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What are the non-freehold estates? |
Estate for years Periodic tenancy (estate from year to year) Tenancy at will Tenancy at sufferance |
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What are the characteristics of an estate for years? |
[1] specific start and finish times [2] terminates automatically [3] subject to statute of frauds (contact over a year in duration) |
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How is a periodic tenancy created and what are its characteristics? |
Created with the words "month to month" or similar language. Tenancy automatically renews and notice is required for termination. |
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How is a tenancy at will created and what are its characteristics? |
A leases Blackacre to T for as long as T wishes would create a tenancy at will. Either party may terminate at will, notice is not required, tenancy terminates by operation of law if [1] either party dies [2] tenant commits waste or [3] landlord sells property |
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When does a tenancy at sufferance exist? |
T wrongfully remains in possession of the premises after the expiration of a lawful tenancy. |
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What are a landlords remedies for tenancy at sufferance? |
[1] eviction [2] creation of a periodic tenancy [3] forcible entry (not allowed in most states) |
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What are the types of future interests? |
[1] Reversion [2] Possibility of reverter [3] Right of re-entry for broken condition (power of termination) |
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What creates a reversion? |
A life estate when the measuring life ends. |
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What are the characteristics of a reversion? |
[1] not destructible [2] vested [3] transferable [4] not subject to R.A.Perp. |
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How is a possibility of reverter estate created? |
A conveys to B "as long as" Blackacre is used for _______, purpose. A creates a possibility of reverter. |
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What are the characteristics of a possibility of reverter estate? |
[1] triggering event automatically reverts property [2] Created as part of a determinable fee [3] Alienable |
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What are the characteristics of a right of re-entry? |
[a] Same as possibility of reverter except it does not take effect automatically [b] Part of a fee simple subject to condition subsequent [3] Not subject to R.A.Perp. |
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What are the types of future interests? |
[1] Remainders: [a] vested and [b] contingent [2] Executory: [a] shifting and [b] springing |
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What language is used to create a is a tenancy in common? |
A conveys Blackacre to C and D and their heirs, each taking ___ interest. |
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What are the two basic qualities of a tenant in common concurrent estate? |
Unity in ownership and no right of survivorship. |
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What are the common law rules regarding TIC interests with respect to scope of possession, profitsharing and rent sharing? |
[1] co-tenants each have the right to share all of the property [2] co-tenants need not share profits earned upon or through use of the property [3] co-tenants have a right to share in rents collected |
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Under which concurrent-estate is the practice of ouster possible? |
Tenants in common |
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How is a joint tenancy created at the common law and under modern law conventions? |
[1] common law: to B & C and their heirs [2] modern: to B & C and their heirs as joint tenants with right of survivorship |
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How can a joint tenancy be severed? |
[1] conveyance inter vivos - TIC results as between original joint tenant and the new TIC purchaser [2] partition [3] mortgage (under title theory) [4] Death - survivor takes title |
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What common law requirements are there to create a joint tenancy? |
Unity of [1] title [2] time [3] interest [4] possession |
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What parties may create a tenancy by the entirety? |
Husband and wife |
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What language is used to create a tenancy in the entirety? |
To H & W, Husband and Wife and their heirs |
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What 5 unities are required to create a tenancy by the entirety? |
[1] Time [2] title [3] possession [4] person [5] Interest |
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How is a tenancy by the entirety severed? |
[1] conveyance if joined by both spouses mutually [2] divorce [3] death: survivor takes title |
