Restraints On Alienation

Front 1

Three types of of Restraint on Alienation

Back 1

1) Disabling-to A, but A shall have no power to transfer the land without my consent.
2) Forfeiture- to A, but if A attempts to transfer without my consent, the land shall automatically revert to me.
3) Promissory-To a, but A promises and convenants not to transfer the land without my con set.

Front 2

Rules Governing Restraints

Back 2

1) All disabling restraints are void except as to spendthrift trusts.
2)All 3 are void if imposed on Fee simple estate
3) If forfeiture and promiser restraints are upheld if imposed on an interest less than fee simple.
4) Rights of first refusal must be reasonable. Person holding the right must have duty to respond within a reasonable time and must be obligated to pay a fair market price.
5) Illegal discrimination is void on its face.