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4 Cards in this Set
- Front
- Back
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Do Fee Tails exisit in NY? |
No. a) Create: i) “To A and the heirs of his body.”
b) Characteristics: i) Virtually abolished in US, including NY. Hardly ever tested. ii) Historically, fee tail would pass directly to grantee’s lineal blood descendents no matter what. iii) If you attempt to create a fee tail today, it creates instead fee simple absolute. |
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Fee simple determinable |
In NY this is called a fee on limitation. |
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Fee simple subject to condition subsequent |
In NY this is called a fee on condition. |
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NY Distinction for Amerolative Waste |
NY Distinction 1. By statute, a life tenant may make reasonable improvements unless the remaindermen object. 2. Look for kind of change a prudent fee simple would do. 3. So you can’t convert a home into a movie cinema, even if the value of the premises is increased. |
