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10 Cards in this Set

  • Front
  • Back
Fee Simple Absolute
"O grants property to A and his heirs"
Fee Simple Determinable
"To School Board so long as the premises are used for school purposes"
Fee Simple Subject to Condition Subsequent
"To A, but if liquor is ever sold on the premises, the grantor has a right to reenter the premises"
Fee Tail
"O grants property to A and the heirs of his body"
Life estate
- Potential duration of one or more human's lives. Very common
- Reverts back to grantor at death of the person in measurement
Fee Simple subject to an Executory Limitation
Terminates on the happening of a stated event it is automatically divested in favor of a third person
Fee Simple Subject to Condition Subsequent
□ A fee simple that does not automatically terminate but may be cut short (divested) at the grantor's election when a stated condition happens
□ If contingent event occurs, grantor has the power to re-enter and to terminate the estate
Fee Simple Determinable
- A fee simple that will automatically end when a specified event occurs
- Nothing is required for it to end but the event it and it reverts back to the grantor automatically
Fee Simple Absolute
- Has the potential of enduring forever
- Like absolute ownership
- No limitations on its inheritability
Doctrine of Waste
○ Can apply whenever the ownership of property is split either between owners in rightful possession and holders of future interests or among multiple owners in shared current possessions
○ Allows a future holder to force a present possessor to persevere its capital value