Estate in Land

Question 1

A transfer of interest in property (by sale or gift)

Answer 1

Grant/Tranfer/Conveyance

Question 2

Transferor is also called a

Answer 2

Grantor

Question 3

Transferee is also called a

Answer 3

Grantee

Question 4

Transfer that happens while the grantor is alive

Answer 4

Inter Vivos

Question 5

The grantor is called this if they are dead

Answer 5

Decedent

Question 6

If the decedent has a will they have died _______

Answer 6

Testate

Question 7

If the decedent has died without a will they have died _____

Answer 7

Intestate

Question 8

If there is a valid will the grantor can be called a _____

Answer 8

Testator

Question 9

Tranferees of decedent with a will are called

Answer 9

beneficiaries (not heirs)

Question 10

Transferees of decedent with no will are called

Answer 10

heirs (if grantor not dead yet they are heirs apparent)

Question 11

For real property we say the testator ____ the property to their _____

Answer 11

Devise/Devisee

Question 12

For personal property we say the testator _____ the property to their ______

Answer 12

bequeathed/legatees

Question 13

Does a beneficiary/heir have interest in a property if the testator/grantor is alive?

Answer 13

NO

Question 14

Types of heirs

Answer 14

Issue: kids, grandkids etc
Ancestors: parents, grandparents, etc
Collateral: siblings, aunts, uncles, etc.
*there are no heirs until the person is actually dead.

Question 15

Who is “O”?

Answer 15

Grantor

Question 16

Who is “A”/”B” etc?

Answer 16

The other parties

Question 17

What is blackacre?

Answer 17

This is how real property is usually referred to.

Question 18

What happens if someone dies with no will and no heirs?

Answer 18

The property will escheat to the state.

Question 19

Quantum

Answer 19

Nature of duration. Example - “Fee simple” or “Life Estate”

Question 20

When does a life estate end?

Answer 20

A life estate ends at the end of a natural life.

Question 21

“O to A” creates what type of estate?

Answer 21

Fee Simple Absolute

Question 22

Define Nemo Dat

Answer 22

You can only convey what you have. So if O to A for life. If A gives to someone else then they only have it for the duration of A’s life.

Question 23

Automatic limiting event

Answer 23

Property rights terminate automatically upon condition of the limiting event being met.

“Determinable”. Limiting language is “inside the estate” using the following words: Until, so long as, while, or during.

Example: O to A so long as A does not divorce.

Question 24

Subject to a condition subsequent creates what type of future interest for O?

Answer 24

Right of Entry!

Grantor has the ability to do it if condition met and must assert the right, it is NOT automatic.

“Subject to a condition subsequent”. Limiting language after the estate, using the following words: but if, provided that, on condition that, however.

Example: O to A, but if A divorces, then back to O.

Question 25

Which limiting category is an adverse possession concern.

Answer 25

Adverse possession can happen when automatic limiting condition is satisfied because the person is no longer allowed to stay so the stay becomes "hostile". For a condition where the grantor must take action the stay does not become hostile until the grantor takes the action.

Question 26

Automatic limiting event or "determinable" creates what kind of future interest for O?

Answer 26

Possibility of Reverter

Question 27

Remainderman must take action or "subject to a condition subsequent" creates a

Answer 27

Right of entry

Question 28

What are the two types of executory interest?

Answer 28

Shifting and Springing

Question 29

What is shifting executory interest?

Answer 29

Follows an estate held by a grantee. Example: O to A, provided that if A ever serves alcohol on the property, then to B.

Question 30

What is a springing executory interest?

Answer 30

Divests the grantor Example: O to A when she turns 21.

Question 31

A remainder can be ____________ or ______________.

Answer 31

Vested or contingent.

Question 32

Vested Remainder

Answer 32

Has no condition precedent inside the language creating it, and is given to an ascertained person.

Question 33

Contingent Remainder

Answer 33

Has another hurdle: either the language containing it has a condition precedent and/or is given to an unascertained person.