Property Heilman

Front 1

Present Estates

Back 1

1. Fee simple absolute
2. fee tail
3. defeasible fee
4. life estate

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Fee simple absolute

Back 2

freely descendible - passes to ones heirs if one happens to die intestate (without a will)

Front 3

Fee simple absolute

Back 3

absolute ownership "To a" or "to and his heirs"

Front 4

Fee simple absolute

Back 4

freely alienable (transferable)

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Fee simple absolute

Back 5

freely devisable (capable of passing by will)

Front 6

alienation

Back 6

to be transferable intervivos (during one lifetime's)

Front 7

Future interest FSA

Back 7

No

Front 8

Fee Tail

Back 8

product of history - virtually abolished in the US today - the fee tail depended for its creation specific langauge "To a and heirs of his body" -would pass directly to grantee's lineal blood descendants no matter what - the idea of historically of fee tail was rooted in desire to preserve family dynasties

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Fee Tail Future interest

Back 9

Could be accompanied by a REV in O or a Remainder in some third party

Front 10

Defeasible Fee*

Back 10

will be tested! 3 kinds of defeasible fees 1)Fee simple determinable

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Fee simple determinable

Back 11

To A so long as, during, til, unless - grantor's use of CLEAR durational language

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Fee simple determinable

Back 12

if the condition is vioalted forfeiture is automatic

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FSD future interest

Back 13

Possibility of Reverter in grantor FSDPOR

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FSDPOR

Back 14

Franklin Sinatra didn't prefer orville redenbaker

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Fee Simple Subject to condition subsequent

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To a but if X happens Grantors reserves the right to rentry and retake - Grantor is using clear durataional language - explicitly carving out right to reenter

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FSSCS

Back 16

Not automatically terminated but can be cut short at the grantor's option

Front 17

Future Interest - FSSCS

Back 17

Right of Reentry
Power of termination

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Fee Simple Subject to Executory Limitation

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To A but if X event occurs THEN to B
-forfeiture works in favor of someone other than grantor
-will be automatically forfeited if the condition occurs
HARSH
-if grantee forfeits estate works to benefit to someone other than O

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FSSEL Future Interest

Back 19

Shifting Executory Interest

Front 20

Life Estate

Back 20

-Measured in explicit lifetime terms
-Never in terms of years
-"O To A for life"

Front 21

Life Estate Pur Autre Vie

Back 21

Life estate measured by a life other than the grantee
-To A for the life of B

Front 22

Life Tenant's Duties
-Waste Doctrine

Back 22

Life Tenant Must not commit waste
-LT must not do anything that would hurt the future interest holders

Front 23

Voluntary Waste

Back 23

Affirmative waste - overt conduct that causes a drop in value
-looking for willful acts of destruction

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Permissive Waste

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Neglect
-when land is allowed to fall into disrepair
-Life Tenant is being remiss, failing to keep up with premises

-Life Tenant must simply maintain blackacre
--keep up with it

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Ameliorative Waste

Back 25

Life Tenant must not engage in conduct that will enhance the premises value
-unless all of the future interest holders consent

Property trying to recognize sentimental value

Front 26

Life Estate Future Interest

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if in O - a Reversion
if in third party - Remainder

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Future Interests Capable of Creation in O (Grantor)

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1. Possibility of Reverter (FSDPOR)
2. Right of Reentry (FSSCS)
3. Reversion (whenever Grantor has something leftover after conveying present estate - lesser duration)

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Future Interests in Grantee

Back 28

1. Remainders <Vested/Contingent>
2. Executory Interests

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Remainder

Back 29

The "patient" future interest
-waits for the preceding interest/present estate to end before it become possessory
Remainders NEVER follow DEFEASIBLE FEES

Example:
-To A for life then to B
B has a remainder - waits till natural conclusion

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Remainder - Vested

Back 30

Vested when
1) created in known taker
AND 2) no subject to condition precedent

Example:
To A for life then to B
-no strings attached as prereqs to B's taking

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Remainders- Contingent

Back 31

When
1) created in as yet unknown takers

Example
-To A for life then to B's first child
--taker not yet ascertaind - contingent

2) OR when subjected to condition precedent

Example:
To A for life and then IF B graduates from college to B

A has a life estate
B still in high school - because B hasn't yet graduated from college - B has a contingent remainder

Front 32

Common Law Rules that limit Contingent Remainders

Rule of Destructibility of CRs

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-Rule of Destructibility of CRs
At common law, CR would be destroyed if it was still contingent when preceding estate ended

This was a very HARSH premise

Today it has been abolished

Front 33

Common Law Rules that limit Contingent Remainders

Rule in Shelley's Case

Back 33

Historically rule in Shelley's Case applies in one setting only
-to A for life then to A's heirs
A is alive
A has a life estate, A's heirs have a contigent remainder
(Dont know heirs until moment of death)
The rule in Shelley's Case the present and future interest merge

Promote alienability
upgrade A from life estate to FSA

Abolished Today - tested more in the realm of history

Front 34

Common Law Rules that limit Contingent Remainders

Doctrine of Worthier Title

Back 34

Third Common Law Rule

Applies when O who is alive tries to create a future interest in his heirs

To A for life then to O's heirs

If doctrine of worthier title did NOT apply
A has a life estate, O's heirs have a CR
CR because can't ascertain heirs are until moment of that person's death - unascertained taker

Because of DOWT the CR in O's heirs is VOID

DOWT creates a life estate in A and O has a Reversion

DOWT survives today - applied in most states
-exists to promote free transfer or alienability of land