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23 Cards in this Set
- Front
- Back
To A so long as...
To A during... To A until... |
Fee Simple Determinable
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Future interest accompanying FSD
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Possibility of Reverter in the grantor
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To A but if X event occurs, then grantor reserves the right to re-enter and re-take
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Fee Simple Subject to Condition Subequent
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Future interest accompanying fee simple subject to condition subsequent
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Right of entry (or power of termination)
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To A, but if X even occurs, then to B
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Fee Simple Subject to Executory Limitation
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Future interest accompanying fee simple subject to executory limitation
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Shifting executory interest
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Ameliorative waste
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Life tenant must not engage in acts that will ENHANCE the property's value, unless all future interest holders are known and consent.
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Vested remainder. A remainder is vested if...
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it is both created in an ascertained person AND is not subject to any condition precedent.
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Contingent remainder. A remainder is contingent if...
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it is created in an unascertained person OR is subject to a condition precedent, OR both.
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The Rule of Destructability of Contingent Remainders
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At common law - contingent remainders were destroyed if still still contingent at the time the preceding estate ended.
Now, original grantor takes and holds subject to B's springing executory interest. |
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Indefeasibly vested remainder. B will...
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certainly acquire in the future, with no strings attached, if he's alive.
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Vested remainder subject to complete defeasance
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When the conditional language follows "to B" (i.e., condition subsequent)
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Contingent remainder
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When the conditional language appears before "to B" (i.e., condition precedent)
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Defeasible fees
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Fee Simple Determinable
Fee Simple Subject to Condition Subsequent Fee Simple Subject to Executory Limitation |
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2 Bright line rules of RAP
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1. A gift to an open class that is conditioned on the members surviving to an age beyond 21 violates RAP
2. Many shifting executory interests violate RAP - an executory interest with no time limit violates RAP |
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RAP Questions
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1. Determine which future interest is created
2. ID the conditions precedent to the vesting of the future interest. 3. Find a measuring life. 4. Will we know withe certainty within 21 years of the death of measuring life that a future interest holder can take? |
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Joint Tenancy Creation
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T-TIP
Time Title Identical/equal interests Possess - identical rights to possess the whole |
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Severance and mortgage in Joint Tenancy: Title v. Lien theory
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Title: one JT's execution of mortgage/lien severs the JT as to the encumbered share
Lien: JT's execution of mortgage on his land will NOT sever JT. (NY) |
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Tenant's entitlements if implied warranty of habitability is breached
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MR3
Move out and end lease Repair and deduct from rent Reduce rent or withhold in escrow Remain in possession and seek money damages |
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Negative Easements must be...
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in writing re: restrictive use of light, air, support or stream
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Transferability of easements (appurtenant and gross)
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Appurtenant: passes automatically w/dominant tenement, regardless of whether it is even mentioned in the conveyance
Gross: not transferable unless it is for commercial purpose |
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Elements for BURDEN to run
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WITHN
Writing Intent Touch & concern the land Horizontal & vertical privity Notice of burden when he took |
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Elements for BENEFIT to run
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WITV
Writing Intent Touch & concern the land Vertical privity only |