Estates Flashcards
(25 cards)
Estate definition
Possessory interest in land
Examples of nonpossessory interests
Easements, profits, covenants, servitudes
Name the estate: “To A & his hiers,” “To A”
Fee Simple Absolute
Fee Simple Absolute description
-Infinite duration, no correlative future interests
-Freely transferable
-Devisable by will
-Descendible through intestacy
Name the estate: “To A & his heirs so long as . . .”
Fee Simple Determinable
Fee Simple Determinable description
-Lasts until condition THEN automatically reverts to grantor
-Transferable, devisable, and descendible BUT always subject to the attached condition
-IF stated condition THEN automatic forfeiture
Name the estate: “To A & his heirs, but if . . .”
Fee Simple Subject to Condition Subsequent
Fee Simple Subject to Condition Subsequent Description
-Lasts until the named event AND grantor chooses to reenter (NOT automatic)
-Grantor has right to terminate estate upon named event
Name the estate: “To A & his heirs for so long as . . . and if not . . . to B”
Fee Simple Subject to an Executory Interest
Fee Simple Subject to an Executory Interest Description
-Lasts until/unless condition is met, then AUTOMATICALLY goes to third party
-Future interest: executory interest
Fee Tail Description
-Lasts until A and his heirs die out
-Then, reverts to grantor
-Abolished in most states
Name the estate: “To A & the heirs of his body”
Fee tail
Life estate description
-Lasts until the end of the measuring life OR the happening of the named event
-Condition names what happens after life or named event
Name that estate: “To A for life”, “To A for the life of B”, “To A for life, then to B”, “To A for life . . . but if . . . to B”
Life estate
Devisable definition
Can pass by will
Descendible definition
Can pass by statutes of intestacy if holder dies without a will
Alienable definition (estates)
Transferable inter vivos
Defeasible fee definition
Fee simple estates that can be terminated by a stated event
Absolute restraint on alienation–effect?
Void
Life estate pur autre vie
“To A for the life of B”
Results when a life tenant conveys their life estate to another
Can life tenant commit ameliorative waste?
No
Types of waste
Ameliorative: improvement
Permissive: neglect
Affirmative: conduct that causes drop in value
Life tenant duties
-Preserve land in reasonable state of repair
-Pay ordinary taxes
-Pay interest on mortgage
-Pay special assessments for public improvements of short
duration
Future interest definition
Right or possibility of future possession of an estate
