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137 Cards in this Set

  • Front
  • Back
what's “to A” OR
“to A & his heirs”
Fee Simple Absolute
what's “to A and the heirs of his body”
Fee Tail
what is “to A so long as” / “to A during”
“to A while” / “to A until”?
Fee Simple Determinable (Fee on limitation)
what's “to A, but if X event happens, granter reserves that right to re-enter and retake”
B. Fee Simple Subject to Condition Subsequent (Fee on condition)
what's “to A, but if X event occurs, then to B”?
C. Fee Simple Subject to Executory Limitation
what's “to A, for life” OR,
“to A for the life of B”
“to A for life, then to B”
?
Life Estate
what's “to A for life, but if X event happens, to B”?
Life Estate
(may be defeasible
what's Fee Simple Absolute ?
a. A living person has NO heirs (only prospective heirs).
what 's fee tail in the pass and current?
1.pass directly to lineal blood descendants
2.would create fee simple absolute
what's Defeasible Fees?
a. Fee simple estates (i.e., of uncertain or potentially infinite duration) that can be terminated upon the happening of a stated event
what's the Important rules of construction on defeasible fees?
(i) Need duration language – words of mere desire, hope, or intention are insufficient
(ii) Absolute restraints on alienation are void – restraint need to be reasonable, time limited purpose
what's this?
“To A for the purpose of constructing a day care center”
fee simple absolute
“To A with the hope that he becomes a lawyer”;
fee simple abusolute
“To A with the expectation that the premises will be used as a Blockbuster video store.”
fee simple absolute
what's the effect of "To A so long as she never attempts to sell.”
A has: Fee Simple Absolute O has: Nothing
what's Fee Simple Determinable?
(e.g. To A so long as, during, while, until)
automatic reverter
what's Fee Simple Determinable called in NY?
Fee on Limitation
What if Condition violated in fee simple determinable?
forfeiture automatic, & there’s a possibility of reverter in the grantor
Does Fee Simple Determinable applies to RAP?
NO
Classify the interests.
Frank Sinatra conveys Sinatra Palace “to Orville Redenbacher, so long as popcorn is never made on the premises.”
. Orville has: Fee Simple Determinable - Frank has: Possibility of Reverter.
what's FSDPOR?
Fee Simple Determinable Possibility of Reverter – Frank Sinatra Doesn’t Prefer Orville Reden.
which kind of estate Must use clear durational language AND must carve out the right to re-enter?
Fee Simple Subject to Condition Subsequent
is fee simple subject to condition subsequent automatically terminated?
no, but it can be cut short at the grantor’s option, if the stated condition occurs.
Does RAP applies Fee Simple Subject to Condition Subsequent?
no
what's the reentry right for Fee Simple Subject to Condition Subsequent
optional
what is Fee Simple Subject to Executory Limitation?
It is defeasible fee.automatic executive interest
what's the effect if Fee Simple Subject to Executory Limitation was violated?
forfeiture automatic, then passes to 3rd party
what's the estate "To Barry Manilow, but if Manilow ever performs music on the premises, then to Mandy.?
Barry has: Fee Simple subject to Mandy’s shifting executory interest. - Mandy has: Shifting Executory Interest
does rap apply to Fee Simple Subject to Executory Limitation?
yes
how does life estate create?
must be measured in explicit lifetime terms (never measured in terms of years)
what's life estate's measuring life?
measured by the life other than grantees
what's the right of each one? O conveys: “To Madonna, for the life of David Letterman.”
Madonna has: Life Estate pur autre vie. O has: reversion. At the end of David Letterman’s life, the estate reverts back to O or O’s heirs
is Life Estate Alienable, devisable & descendible?
yes.if measuring life is still alive
what 's this?
(“to A for life so long as alcohol isn’t used on the premises”),
life estate determinable
what's this? “to A for life, but if A is divorced, grantor reserves right to reenter”
life estate subject to a condition subsequent
what's this "to A for life, but if A is divorced, to B"
life estate subject to an executory interest
Does life estate Entitled to all ordinary uses & profits from the land?
yes
can life estate commit waste?
no
what's waste? what can future interest holder sue for?
anything that will harm the future interest holders.
a future interest holder may sue for damages or injunction
what's actual, overt conduct causing decrease in value;
Voluntary/affirmative waste
can you consume or exploit natural resources on propert?
no EXCEPT for PURGE
what's purge?
- Prior Use
- Reasonable repairs
- Grant
- Exploitation
what's prior use?
prior to the grant, land was used for exploitation (but no right to open new mine)
can life tenant consume natural resources for reasonable repairs & maintenance of the premises?
yes
what's grant under waste?
life tenant was expressly granted right to it
what's Exploitation under waste?
the land is suitable only for exploitation
what's Permissive waste/neglect ?
land is allowed to fall into disrepair, or the life tenant fails to reasonably protect the land
do life tenant have to pay tax? for what?what if no value ?
- Must pay all ordinary taxes, to the extent of the value of rents & profits. If no income or profits, must pay taxes up to the fair rental value.
what's the permissive waste doctrine require?
- Property Law says Life tenant must simply maintain the premises in reasonably good repair
- Must pay all ordinary taxes, to the extent of the value of rents & profits. If no income or profits, must pay taxes up to the fair rental value.
what's Ameliorative waste
life tenant must not engage in acts that will enhance property’s value
when can a life tenant engage in act that enhance property's value?
- All future interest holders are known, & consent, OR
- A substantial & permanent change in the neighborhood conditions
what accompanies the fee simple determinable
possibility of reverter
what's Reversion
future interest that arises in a grantor who transfers an estate of lesser quantum than he started with
what's Future Interests in Transferor
a. Possibility of reverter
b. Right of entry/power of termination
c. Reversion
what estate has the Right of entry/power of termination?
fee simple subject to condition subsequent
what's Remainder?
a future interest created in a grantee that become possessory upon the expiration of a prior possessory estate
do prior possessory estate created in same conveyance in which the remainder is created
Yes
what's the character for remainderman?
sociable, patient and polite
Does remainderman always accompanies a preceding estate of known fixed duration?
yes, he is sociable
what's the meaning of Remainderman is patient and polite?
Remainderman never follows a defeasible fee
can Remainderman cut short or divest a prior transferee?
no
if your present estate is a defeasible fee, what your future interest is?
it will be executory interest. not a remainder.
what accompanies a preceding estate of known, fixed duration?
either a vested or contingent remainder
what is Indefeasibly vested remainder?
NO conditions attached (“to A for life, remainder to B”);
Does indefeasibly vested remainder subject to RAP
NO.
What is Vested remainder subject to complete defeasance?
subject to a condition subsequent
(“to A for life, remainder to B, provided, however, that if B dies under the age of 25, to C” what does B.C have?
B has the vested remainder subject to complete defeasance, C has a shifting executory interest
Does Vested remainder subject to complete defeasance apply to RAP?
NO
If conditional language follows and set off by commas In a remainder, what is it?
vested remainder subject to complete defeasance
If conditional language appears before in a remainder, what is it?
contingent remainder
what is Vested remainder subject to open ?
vested remainder created in a class of persons
what does open mean in Vested remainder subject to open?
it is possible for other to enter
Does vested remainder subject to open, subject to RAP?
YES
When is a vested remainder subject to open closed?
maximum membership has been set, whenever any member can demand possession
what is Contingent Remainder?
created in an unascertained person OR is subject to condition precedent
Does Contingent remainder subject to RAP?
YES
“To A for life, then, if B graduates from college, to B.” A is alive. B is now in high school. What B is now?what does O have? what if he graduated from collage?
B therefore has: contingent remainder. O has reversion (If B never graduates, O or O’s heirs take.) If B graduates from college during A’s lifetime: B's contingent remainder is transformed automatically into an indefeasibly vested remainder
what's an example of Unborn or unascertained person?
“to A for life, then to those children of B who survive A
what's an example of contigent remainder Subject to a condition precedent?
to A for life, then if B graduates from college, to B
what's the rule of Destruction of Contingent Remainders?
Contingent remainders destroyed, if not vested at time of termination of preceding estate
what's the mordem and past rule of Destruction of Contingent remaider. Take this as an example “to A for life, and if B has reached age 21, to B”
(A dies before B reaches 21)
past: B’s contingent remainder destroyed
- O or O’s heirs take in fee simple absolute
now:O or O’s heirs hold estate subject to B’s springing executory interest
- B takes, once reaches 21
what's Rule in Shelley’s Case
(Rule Against Remainders in Grantee’s Heirs)
what's the rule in Shelly's case?
If same instrument created a life estate in A & gave the remainder only to A’s heirs, the remainder was not recognized
In this case.
what's the pass rule?
“to A for life, then, on A’s death, to A’s heirs”
(A is alive)
A has fee simple absolute (because present & future interests would merge)
what's the modern rule of Rule in Shelley’s Case

“to A for life, then, on A’s death, to A’s heirs”
(A is alive)
- A has life estate
- A’s unknown heirs have contingent remainder
- O has a reversion
what's Doctrine of Worthier Title?
Rule Against a Remainder in Grantor’s Heirs
what's the rule of Doctrine of Worthier Title?
Remainder in the grantor’s heirs is invalid, so grantor has a reversion
what's the historic rule of Doctrine of Worthier Title?
- A has life estate
- O has a reversion
what's the current rule of Doctrine of Worthier Title?
- A has life estate
- O’s heirs have contingent remainder
X conveys “to Y for life, then to Z’s children”; if, before Z has any children, X purchases Y’s life estate
what does X have? what does Z's unborn children have?
, X will have a life estate pur autre vie AND a reversion – these interests merge, & the contingent remainder in Z’s unborn children is destroyed
what's the intent of ?Doctrine of Worthier Title
- Doctrine tries to promote the free transfer of land
what does it mean by It’s a rule of construction, & not a rule of law in Doctrine of Worthier Title?
so, if grantor intends to create a contingent remainder in his heirs, that intent is binding
Does Destruction of Contingent Remainders;Rule in Shelley’s Case;Doctrine of Worthier Title apply in NY?
NO
What's the Future interests in 3rd parties that either divest a transferee’s preceding freehold estate (“shifting interests”) or follow a gap in possession or cut short a grantor’s estate (“springing interests”)
Executory Interest
“to A & his heirs, but if B returns from Canada sometime next year, to B & his heirs. what does B have?
Shifting executive intest.
to A, but if A uses the land for nonresidential purposes at any time during the next 20 years, then to B. what does B have?
shifting executive interest.
what's a spring interest?
cuts short the grantor
to A, if & when he marries. what does A have?
a springing executory interest
to A, if & when he becomes a lawyer. what does A have?
spring executory interest
what's the Executory Interests in NY?
Abolished
What does remainder subject to a condition precedent called in NY?
remainders subject to a condition precedent
what's this– certain kinds of future interests are void if there is any possibility, however remote, that the given interest may vest more than 21 years after the death of a measuring life?
Rule Against Perpetuities
what does RAP apply?
(1) contingent remainders
(2) executory interests
(3) certain vested remainders subject to open
(4) options to purchase land (note: RAP does not apply to lessee)
(5) powers of appointment
what does RAP does NOT apply to?
(1) reversions (any future interest in O, the grantor)
(2) indefeasibly vested remainder
(3) vested remainders subject to complete defeasance
(4) charities
what does Vested remainder subject to complete defeasance called in NY?
NY – remainder vested subject to total divestment
What's the 4-step technique for assessing RAP problem?
a. Determine which future interests have been created by the conveyance
b. Identify the conditions precedent to the vesting of the suspect future interest – what must happen before a future interest holder can take?
c. Find a measuring life – look for a person alive at the date of the conveyance, & ask whether that person’s life or death is relevant to the condition’s occurrence
d. Ask whether we’ll know, within 21 years of the death of our measuring life, if our future interest holder can or cannot take – if so, the conveyance is good
to A for life, then to the first of her children to reach the age of 30”
A is 70; only child, B is 29 years old
what's the result?
A has life estate
O has revision
the right is not vest.
Is A gift to an open class that is conditioned on the members surviving to an age beyond 21 violates RAP?
YES
Does an executory interest with no limit on the time within which it must vest violates the RAP?
yes
what's an example that executory interest violate rap
“to A & his heirs so long as the land is used for farm purposes, & if the land ceases to be so used, to B & his heirs”
what's charity to charity exception?
a gift from one charity to another does not violate the RAP
what's NY ‘Fertile Octogenarian’ principle is modified?
a woman over the age of 55 is presumed infertile, & the possibility that the person may have a child by adoption is disregarded
what's the Rule against suspension of the absolute power of alienation?
applies common law RAP to restrictions on the power to sell or transfer – so, an interest is void if it suspends the power to sell or transfer for a period longer than lives in being, plus 21 years
what's Common RAP cases
a. Executory interest following defeasible fee: “to A for so long as no liquor is consumed on the premises, then to B”
b. Age contingency beyond age 21 in open class: “to X for life, then to those of X’s children who attain the age of 25”
c. Fertile octogenarian: “to A for life, then to A’s children, then to A’s grandchildren in fee” is invalid as to A’s grandchildren despite that A is 80 years old
d. Unborn widow/er
e. Administrative contingency
f. Options & rights of first refusal:
Is this valid?
to A for life, then to A’s widow for life, then to A’s surviving issue in fee
no
Is this valid?
“to A for life, then to A’s widow for life, a remainder to A’s children.
valid.
what does Concurrent Estates contains?
i) joint tenancy; (ii) tenancy by the entirety; & (iii) tenancy in common
what's this?each tenant has an undivided interest in whole estate (each enjoys a share with the right to use the whole), with right of survivorship
1. Joint Tenancy
disfavored because they allow takers to avoid probate
what's Right of survivorship?
if 1 joint tenant dies, his share passes automatically to surviving joint tenants
is Right of survivorship Alienable,divisible or descendible
Alienable – but NOT, divisible or descendible
because of the right of survivorship)
how to create joint tenancy?
requires 4 unities
grantor must clearly express right of survivorship
what's 4 unities?T-TIP
(a) at the same Time
(b) by the same Title (i.e., same instrument)
(c) Identical, equal interests
(d) identical rights to Possess the whole
what if Sale or transfer interest during her lifetime in Joint tenancy?
(can do so secretly, without the others’ knowledge or consent)
because disrupts 4 unities & buyer is ‘tenant in common’; BUT joint tenancy remains intact as between the other, non-transferring joint tenants
How to part a joint tenancy?
(a) Voluntary agreement – allowable, peaceful way to end the relationship
(b) Partition in kind – judicial action for physical division of property, for best interests of all parties
(c) Forced sale – judicial action for best interests of all, the land is sold & proceeds are divided proportionately
Title theory of mortgage
one joint tenant’s execution of a mortgage or lien on his or her share will sever the joint tenancy as to that now encumbered share
Lien theory of mortgage (MAJORITY / including NY)
a joint tenant’s execution of a mortgage on his or her interests will not sever the joint tenancy; severance only occurs if the mortgage is foreclosed and the property is closed
when the right of survivorship of the noncontracting party's right distroyed?
the conveyance is properly recorded.
what's Tenancy by the Entirety?
a protected marital interest between husband (H) & wife (W) with the right of survivorship
how to create a tenancy by entirety?
(i) Only be created by husband & wife (fictitious 1 person) with rights of survivorship
(ii) Presumption that any conveyance to H &W, UNLESS clearly stated otherwise
what's the Protected form of co-ownership under tenancy by entirety?
(i) Creditors of only one spouse cannot touch the tenancy
what's NY Distinctions under Tenancy by the Entirety in mortgage?
1 spouse may mortgage his interest & his creditors may enforce against that interests, BUT only as to the debtor spouse’s share
Non-debtor spouse’s rights, including the right of survivorship, must not be compromised
can Unilateral conveyance to 3rd party can defeat the right of survivorship?
no
Tony and Carmella, married to each other, own Blackacre as tenants by the entirety. Tony then secretly transfers his interest to Uncle Junior. What does Uncle Junior have?
nothing
how to Severance tenancy by entirety?
(i) death, (ii) divorce, (iii) mutual agreement, or (iv) execution by a joint creditor
what's Tenancy in Common?
each co-tenant owns an individual part, & each has a right to possess the whole
what's the character of Tenancy in Common?
each interest is descendible, divisible & alienable; BUT NO survivorship rights
rights and duty of co-tenant.
a. Possession
b. Rent from co-tenant in exclusive possession
c. Rent from 3rd parties
d. Adverse possession
e. Carrying costs
f. Repairs
g. Improvements
h. Waste
i. Partition
j. Duty of fair dealing