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118 Cards in this Set

  • Front
  • Back

Collaterals

The term for relatives like aunts, uncles, cousins, brothers, and sisters.

What is wrong with this sentence?



"All of the heirs gathered at the lawyer's office to learn what the decedent had left them in his will."

"heirs" refers to people receiving property by inheritance, not by will



"devisees" would be the proper term

Fill in the blank:




"Jeremy Parker died ______ [without a will]."

Intestate

Fill in the blank:



"The _____ [dead person] had no heirs."

Decedent

What is wrong with this sentence?



"Since Harold did not have a will, Maude is the devisee of his entire estate."

Maude is the heir, not the devisee.

Ancestors

The term for parents, grandparents, and great-grandparents.

Fill in the blank:



"If Hazel had not died _______ [with a will], all of her estate would have passed to her daughter."

Testate

Francine had never married. She died without a will and all of her blood relatives had died many years before. Therefore, her property will ________ to the state.

Escheat

David's father has just written a will naming David as the sole beneficiary of the family business. What property interest does David have as a result of being named in the will?

None

"O to A and her heirs."

Fee Simple (Absolute)

"O to A and the heirs of her body."

Fee tail

"O to A for life."

Life estate

"O to A for 10 years."

Term of years

What is the duration of B's estate?



"O conveys to A and the heirs of his body." Then A conveys to B.

B's estate ends when A dies.

What is the duration of B's estate?



"O conveys to A for life." Then A conveys to B for 2 years. One month later, A dies.

B's estate ends when A dies.

What is the duration of B's estate?



"O conveys to A for life." In 1993, A conveyed to B for 2 years. A died in 2001.

B's estate ended in 1995.

What is the duration of B's estate?



"O conveys to A for life." Then A dies, devising her entire estate to B.

B has no estate.

O conveys to B until he dies.

B has a life estate.


O has a reversion in FSA.

O devises to C for life, then to X.

C has a life estate.


X has a vested remainder in FSA.


O has nothing.

O conveys to E for life, then to Z for life.

E has a life estate.


Z has a vested remainder in life estate.


O has a reversion in FSA.

O devises to E for life, then to Z for life.

E has a life estate.


Z has a vested remainder in life estate.


O's descendants have a vested remainder in FSA.

O conveys to F for life. F then conveys her interest to Google, Inc.

F has a life estate.


Google, Inc. has a life estate pur autre vie (until F dies).


O has a reversion in FSA.

Voluntary waste

An affirmative act that significantly reduces the value of the property (ex: demolishing a valuable building).

Permissive waste

Failure to take responsible care to protect the estate (ex: failure to make repairs, failure to pay taxes, failure to insure the property).

Ameliorative waste

An affirmative act that leads to a substantial change in the property that increases the value of the property (ex: constructing an additional building).

O to B and the heirs of his body.

B has a fee tail.


O has a reversion in FSA.

O to C and her children.

C has FSA.

O to D and the children of his body.

D has FSA.

O to E and the heirs of E.

E has FSA.

What kinds of estates end naturally.

Life estate, fee tail, and term of years.

O to A so long as A does not divorce B, then back to O.

A has fee simple determinable.


O has possibility of reverter in FSA.

O to A and his heirs, but if A divorces B, then to O.

A has FSSCS.


O has right of entry in FSA.

O to A and his heirs, provided that A does not divorce B, then to O.

A has FSSCS.


O has right of entry in FSA.

O to A; however, if A divorces B, then to O.

A has FSSCS.


O has right of entry in FSA.

O to A during the time A refrains from divorcing B, than back to O.

A has fee simple determinable.


O has possibility of reverter in FSA.

O to A, provided that A never drills for oil on the property.

A has FSSCS.


O has a right of entry in FSA.

O to A for life or until B graduates from medical school.

A has fee simple determinable.


O has right of entry in FSA.

O to A for life, on condition that A never sell alcohol on the property.

A has FSSCS.


O has right of entry in FSA.

O to A for 30 years while A resides on the premises.

A has term of years determinable.


O has reversion in FSA.

O to A and the heirs of her body so long as the land is farmed, but if the land ceases to be farmed, then back to O.

A has fee simple determinable.


O has possibility of reverter in FSA.

O to A; however, if A graduates from law school, then back to O. Two years later, A graduates from law school. O makes no attempt to re-take the property.

A has FSSCS prior to graduating from law school.



O has a right of entry in FSA, which, if not exercised, does not interrupt A's FSSCS.

O conveys to A and her heirs so long as alcohol is not sold on the property.

A has fee simple determinable.


O has possibility of reverter in FSA.

O conveys to A and her heirs, provided that alcohol is not served on the propery.

A has FSSCS.


O has right of entry in FSA.

O conveys to A and her heirs but if the property is ever used for the sale of alcohol, then to B.

A has FSSEL.


B has shifting EI in FSA.


O has nothing.

O devises to A and her heirs, provided that alcohol is not served on the property.

A has FSSEL.


O is dead.


O's descendants have shifting EI in FSA.

O conveys to B and his heirs so long as the land is not used as a night club.

B has FSD.


O has possibility of reverter in FSA.

O devises to C and her heirs, but if Boston becomes a state then O's heirs have the right to reenter and retake the estate.

C has FSSEL.


O is dead.


O's heirs have shifting EI in FSA.

O conveys to D for life, then to M and her heirs while the well continues to provide water.

D has life estate.


M has vested remainder in FSD.


O has possibility of reverter in FSA.

O conveys to E and her heirs provided that alcohol is never served on the premises.

E has FSSCS.


O has right of entry in FSA.

O conveys to the First Baptist Church provided that the land is used as a church, then to Google, Inc.

First Baptist Church has FSSEL.


Google, Inc. has shifting EI in FSA.


O has nothing.

What future interest remains after O conveys a fee simple absolute?

None

If the future interest following a term of years is in the grantor, what is it called?

Reversion

If the future interest following a fee simple subject to a condition subsequent is in the grantor, what is it called?

Right of entry

If the future interest following a term of years subject to a condition subsequent is in the grantor, what is it called?

Reversion

What is the name of the grantor's future interest that can interrupt the prior estate, causing it to end early?

Right of entry

O to A so long as A does not divorce B, then back to O.

A has FSD.


O has possibility of reverter in FSA.

O to A and his heirs, but if A divorces B, then to O.

A has FSSCS.


O has right of entry in FSA.

O to A and his heirs, provided that A does not divorce B, then to O.

A has FSSCS.


O has right of entry in FSA.

O to A; however, if A divorces B, then to O.

A has FSSCS.


O has right of entry in FSA.

O to A during the time that A refrains from divorcing B, then back to O.

A has FSD.


O has possibility of reverter in FSA.

O to A, provided that A never drills for oil on the property.

A has FSSCS.


O has right of entry in FSA.

O to A for life or until B graduates from medical school.

A has FSD.


O has reversion in FSA.

O to A for life, on condition that A never sell alcohol on the property.

A has life estate subject to condition subsequent.


O has reversion in FSA.

O to A for 30 years while A resides on the premises.

A has term of years determinable.


O has reversion in FSA.

O to A and the heirs of her body so long as the land is farmed; but if the land ceases to be farmed, then back to O.

A has fee tail determinable.


O has reversion in FSA.

Michael conveys the house on Adams St. to Jane and her heirs, provided the Jane is never disbarred.

Jane has FSSCS.


Michael has right of entry in FSA.

Marilyn conveys to Arthur and his heirs for so long as the land is farmed.

Arthur has FSD.


Marilyn had possibility of reverter in FSA.

I, Carolyn, devise all of my real property to my husband John; however, if John ever lives in sin with a woman, then my property will go back to my estate.

John has FSSEL.


Carolyn's estate has shifting EI in FSA.

Jay conveys to Ellen and the heirs of her body.

Ellen has fee tail.


Jay has reversion in FSA.

I, Joan, convey my vacation home in the Catskills to my brother, James, for his life.

James has life estate.


Joan has reversion in FSA.

I want the Simpson farm to remain in my family for as long as possible. Since I have no children, I devise the farm to my sister, Janice, and the heirs of her body.

Janice has fee tail.


Testator's heirs have vested remainder in FSA.


Testator is dead.

O conveys to D for life, then to M and her heirs while the well continues to provide water.

D has life estate.


M has vested remainder in FSD.


O has possibility of reverter in FSA.

O conveys to A for life, then to B.

A has life estate.


B has vested remainder in FSA.


O has nothing.

O conveys to A for life, then to B for life.

A has life estate.


B has vested remainder in life estate.


O has reversion in FSA.

O conveys to Alice for life, then to Brad for life, then to Carley.

Alice has life estate.


Brad has vested remainder in life estate.


Carley has vested remainder in FSA.


O has nothing.

O conveys to A for life, then to B and his heirs, but if B dies leaving no surviving children, then to C and his heirs.

A has life estate.


B has vested remainder subject to divestment in FSA.


C has shifting EI in FSA.


O has nothing.

O conveys to B for life, then to D, but if D does not survive B, then to E.

B has life estate.


D has vested subject to divestment in FSA.


E has shifting EI in FSA.


O has nothing.

O conveys to B for life, then to D's children. At the time, D is alive and D has two living children named E and F.

B has a life estate.


E and F have vested subject to open in FSA.


O has nothing.

O conveys to Alfonzo for life, then to the grandchildren of Alfonzo and their heirs. At the time, Alfonzo has 2 living children and 5 living grandchildren.

Alfonzo has life estate.


5 living grandchildren have vested subject to open in FSA.

O conveys to B for life, then to the heirs of D. Assume D is alive.

B has life estate.


Heirs of D have contingent remainder in FSA.


O retains reversion in FSA.

O conveys to B for life, then to D if D becomes president.

B has life estate.


D has contingent remainder in FSA.


O retains reversion in FSA.

O conveys to Elvira for life, and if Abdul gets married before Elvira dies, to Abdul and his heirs. Abdul is unmarried at the time of the conveyance.

Elvira has life estate.


Abdul has contingent remainder in FSA.


O retains reversion in FSA.

O conveys to Dexter for life, then if Jessica marries, to Jessica and her heirs. At the time of the conveyance, Jessica is not married.

Dexter has life estate.


Jessica has contingent remainder in FSA.


O retains reversion in FSA.

O to A for life, then to B and her heirs if B graduates from law school.

A has life estate.


B has contingent remainder in FSA.


O retains reversion in FSA.

O to A for life, then to B and her heirs if B graduates from law school.



A dies before B graduates from law school.

A's life estate ends.


O has reversion in FSA.


B's contingent remainder is destroyed.

O to A for life, then to B and her heirs if B graduates from law school.



B graduates from law school before A dies.

A has life estate.


B has vested remainder in FSA.


O's reversion is extinguished.

O to A for life, then to B and her heirs if she graduates from law school; but if she fails to graduate from law school, then to C and his heirs.

A has life estate.


B has contingent remainder in FSA.


C has alternative contingent remainder in FSA.


O retains reversion in FSA.

Two Merger Requirements

1. Only applies to vested interests


2. Vested interests must be successive and held by same party (no intervening vested interests between)

O conveys to A for life, and then to B.

A has life estate.


B has vested remainder in FSA.


O has nothing.

O devises to C, but if C ever drinks alcohol, then to D.

C has FSSEL.


D has shifting EI in FSA.


O has nothing.

O conveys to D for six months.

D has term of years.


O has reversion in FSA.

O conveys to E for so long as the land is used as a library.

E has FSD.


O has possibility of reverter in FSA.

O conveys to F for life, then to G for life.

F has life estate.


G has vested remainder in life estate.


O has reversion in FSA.

If the future interest following a life estate is in the grantee, what is it called?

Remainder

If the future interest following a fee tail is in the grantee, what is it called?

Remainder

How can you recognize a contingent remainder?

Holder is unascertained OR it contains a condition precedent OR BOTH.

What two characteristics define an ascertained person?

The person is born and identified.

O to A for life, then to B.

A has life estate.


B has vested remainder in FSA.


O has nothing.

O to A and her heirs so long as A never uses illegal drugs.

A has FSD.


O has possibility of reverter in FSA.

O to A for life, but if an Interstate highway is built within 1 mile of the property, then to O.

A has life estate subject to condition subsequent.


O has reversion in FSA.

O to A and her heirs, but if A grazes cattle on the land, then to B and his heirs.

A has FSSEL.


B has shifting EI in FSA.


O has nothing.

Travis conveys Blackacre to Mara and her heirs if Mara is married. Mara is not currently married.

Travis has FSSEL.


Mara has springing EI in FSA.

O to A for life, then to B and his heirs if B attends A's funeral.

A has life estate.


O has FSSEL.


B has springing EI in FSA.

O to A for life, then to B and her heirs, but if B stops farming the land, then to C and her heirs.

A has life estate.


B has vested remainder in FSSEL.


C has shifting EI in FSA.


O has nothing.

O to A for life, then to B and her heirs, but if A stops farming the land, then to and her heirs.

A has life estate.


B has vested remainder subject to divestment in FSSEL.


C has shifting EI in FSA.

O to A for life, then to B and his heirs, but if A stops farming the land, then O has the right to re-enter.

A has life estate.


B has vested remainder subject to divestment in FSSCS.


O has right of entry in FSA.

O to B and his heirs, but if B sells alcohol on the land, then to C and her heirs.

B has FSSEL.


C has shifting EI in FSA.


O has nothing.

O to A for life, then to B and his heirs, but if A sells alcohol on the land, then to C and her heirs.

A has life estate.


B has vested remainder subject to divestment in FSSEL.


C has shifting EI in FSA.


O has nothing.

O to A for life, then to B, but if B buys a foreign-made car, then to C.

A has life estate.


B has vested remainder subject to divestment in FSSEL.


C has shifting EI in FSA.


O has nothing.

O to A for life, then to B, but if B buys a foreign-made car, then to O.

A has life estate.


B has vested remainder subject to divestment in FSSCS.


O has right of entry in FSA.

O to A for life, then to B and his heirs if he graduates from law school.

A has life estate.


B has contingent remainder in FSA.


O has reversion in FSA.

O to A for life, then to B and his heirs, but if A graduates from medical school, then to C and her heirs.

A has life estate.


B has vested remainder subject to divestment in FSSEL.


C has shifting EI in FSA.

O conveys to C for life, then to D and his heirs if D lives to the age of 30.

C has life estate.


D has contingent remainder in FSA.


O retains reversion in FSA.

O conveys to E for life, then to F's children and their heirs. F is alive but has no children.

E has life estate.


F's (potential future) children have contingent remainder in FSA.


O retains reversion in FSA.

O devises to G for life, then to H, but if H does not survive G, then to I.

G has life estate.


H has vested remainder subject to divestment in FSSEL.


I has shifting EI in FSA.


O has nothing (he's dead, too).

O conveys to J for life, then to K for life, then to L's children. L is alive and has one child, M.

J has life estate.


K has vested remainder in life estate.


M has vested remainder subject to open in FSA.


L's other potential future children have shifting EI in FSA.


O has nothing.

O conveys to A 15 years from now.

O has FSSEL.


A has springing EI in FSA.

Stopped at Class 8, slide 26

Begin again at Class 8, Slide 27