Future Interests

Front 1

Possibility of Reverter (grantor)

Back 1

1) Only follows Fee Simple Determinable.

Front 2

Right of Entry (grantor)

Back 2

1) Only follows FS Subject to condition subsequent.

Front 3

Right of Reversion (grantor)

Back 3

1) Follows any other interest (not FSD or FS SCS) given by the grantor which is of lesser duration than that she owns.

Front 4

Remainder (non-grantor)

Back 4

1) Future Interest created in a grantee that is capable of becoming possessory upon the expiration of a prior possessory estate created in the same conveyance in which the remainder is granted.

Front 5

Rules of Remainder

Back 5

1) Never born alone- created at same time and by the same instrument as the prior estate.
2) Crave company- always accompany a prior estate of known fixed duration, usually a life estate (or term of years)
3) Aren't rude- never cut short a prior estate
4) Don't wait- remainders won't follow a built in time gap between the prior estate and future interest.

Front 6

Types of Remainders

Back 6

1) Contingent: created in an unascertained person or is subject to a condition precedent, or both
2) Vested: it is both created in an ascertained person and is not subject to any condition precedent.

Front 7

Executory Interest (non-grantor)

Back 7

1) Catch all: Any future interest created in one other than the grantor, which does not meet the rules of remainder.
2) Shifting: always follows a defeasible fee and cuts short someone other than the grantor.
3) Springing: cuts short the interest of the grantor.

Front 8

Shelley's Case (probably not)

Back 8

Pre '95, rules against grantee's heirs,held that the remainder was in A, not A's heirs. It then merged into A's life estate to give A a FSA

Front 9

Doctrine of Worthier Titles (probably not)

Back 9

Pre '95, rules against remainders in grantor's heirs, held that if conveyance was by deed, the future interest was deemed to be in the grantor.

Front 10

Rules Against Perpetuities

Back 10

Future interest covered by RAP is 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.
2) Gift from charity to another does not violate RAP.
3) Many shifting executory interest violate RAP.