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15 Cards in this Set

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Present Estate
an interest in an estate which carries with it a present right to exclusive possession
right-of-way easement holder
has no right to the exclusive possession of any portion of the estate, but may enter the estate in the course of exercising his right of way
2 types of Estates
1)present estates (interests)

2) future estates (interests)
Future interest
an interest in land which 1) may become possessory, but which is not now possessory, and 2) is a segment of ownership measured in terms of duration
What are the four dimensions of land?
1) lenght
2) width
3) height
4) time
O owns Blackacre, consisting of forty acres of land. He grants twenty acres of it to A. How has O divided blackacre?
O has divided Blackacre by lenght/or width
O owns Blackacre, consisting of forty acres of land. O grants A the space between 20 feet and 100 feet above ground level over all of Blackacre. How has O divided Blackacre
O has divided Blackacre by height
2 Ways to divide land?
1) spatial division (length, width, height)

2) temporal division (time)
O owns Blackacre. O grants A "a life estate for the duration of A's life" in all of Blackacre. 1)How has O divided Blackacre? 2)What is A's interest? 3)What is O's interest?
1) O has divided Blackacre by time
2) A's interest is a present estate, called a "life estate"
3) O's interest is a future estate, called a reversion
2 Types of Present Estates
1) Freehold

2) Non-freehold
Fee Simple Absolute

1) what is the future interest gained by the Grantor?

2) What is the future interest created in 3rd party grantee?
1) none

2) none
Fee Simple Determinable

1) What is the Future Interest retained by Grantor?

2) What is the future interest created in 3rd party grantee?
1) Possibility of Reverter

2) Executory Interest
* Remainders never can follow any fee simple
What are some words that suggest a fee simple determinable?
while, during, until, for so long as
Fee Simple Subject to Condition Subsequent
1) What is the future interest retained by the grantor?
2) What is the future interest created in 3rd party Grantee?
1) Power of termination

2) Executory Interest
What are some words that suggest a fee simple subject to a condition subsequent?
"provided, however", "but if", "on condition that", "if, however"