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18 Cards in this Set
- Front
- Back
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What does O (future interest holder) have in an FSD?
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Possibility of reverter
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What does O (future interest holder) have in an FSSCS?
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Right of entry
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What does the future interest holder (B) have in a fee simple subject to executory limitation?
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Shifting executory interest
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What does the future interest holder (O or B) have in a life estate?
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Reversion
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Which types of freehold estate holders are entitled only to the ordinary uses and profits of the land & must not commit waste?
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A life tenant
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What is a contingent remainder?
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Createe either
-in an unknown person, or -subject to a condition precedent (or both) |
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What is a vested remainder?
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Created in a known person AND not subject to any condition precedent.
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A contingent remainder was destroyed if it had not vested when preceding estate ended--what is the name of this?
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The Rule of Destruction of Contingent Remainders
ABOLISHED IN VA (and elsewhere). |
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A grant to A, and to A's heirs upon A's death would merge and A would have an FSA--what is this called?
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The Rule in Shelley's Case.
ABOLISHED IN VA (and elsewhere). |
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O grants to A for life and then to O's heirs would be void and A would have an FSA--what is this called?
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The doctrine of Worthier Title
ABOLISHED IN VA (not on MBE). |
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In VA, if a joint tenancy does not state that there is a right of survivorship, what kind of tenancy exists?
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Tenancy in common
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If T's tenancy is a periodic tenancy from year to year, how early must notice be given to terminate the tenancy?
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In VA, 3 months
On MBE, 6 months |
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How long does it take to adversely possess property in VA?
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15 years
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Is VA a notice or a race-notice JX?
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Notice JX
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What is a notice JX?
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Subsequent BFP prevails
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What is a race-notice JX?
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Subsequent BFP who records first prevails.
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What are the covenants in a general warranty deed?
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1. Seisin
2. Right of way 3. Against encumbrances 4. Quiet enjoyment 5. Warranty 6. Further assurances |
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What are the guarantees made in a special warranty deed?
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1. Grantor promises he has not conveyed the land to anyone else
2. And that it is free from encumbrances made by grantor |
