Estates Flashcards
(24 cards)
What is a fee simple absolute?
An estate that is fully alienable, divisible, and descendible, with absolute ownership for infinite duration.
Language used: ‘To A and his or her heirs.’
What happens if the condition of a fee simple determinable is violated?
Forfeiture is automatic.
Example of durational language: ‘To A so long as A remains a lawyer.’
What is the future interest that accompanies a fee simple determinable?
Possibility of reverter.
What distinguishes a fee simple subject to condition subsequent?
Clear durational language and a clear statement of the right of re-entry.
Example: ‘To Rachel, but if coffee is ever drank on the premises, grantor reserves the right to re-enter and re-take.’
What future interest accompanies a fee simple subject to condition subsequent?
Right of Entry with power of termination.
What is a life estate?
An estate explicitly limited to the lifetime of a person, not in terms of years.
Example: ‘To A for life.’
What is the waste doctrine?
A life tenant is entitled to all reasonable uses and profits from the land but must not commit waste.
What are the types of waste?
- Voluntary/affirmative waste
- Permissive waste
- Ameliorative waste
What are the two future interests that can accompany a life estate?
- Reversion
- Remainder
What is a vested remainder?
A future interest in a grantee that is not subject to any conditions precedent.
What is an indefeasibly vested remainder?
A vested remainder where the remainderman is known with no strings attached.
What is a contingent remainder?
A future interest subject to a prerequisite condition before entry on land.
What distinguishes executory interests from other future interests?
They take effect by cutting short another estate.
What is a joint tenancy?
An estate where two or more persons own property with the right of survivorship.
What are the four unities required to create a joint tenancy?
- Time
- Title
- Interest
- Possession
What happens to a joint tenancy if one tenant sells their share?
It severs the joint tenancy for the seller’s share.
What is tenancy by the entirety?
An estate that exists only between married partners with the right of survivorship.
What is tenancy in common?
An estate where two or more persons own property without the right of survivorship.
What is the presumption favoring tenancy in common?
Each TIC interest is divisible, descendible, and alienable.
What is ouster in the context of co-tenancies?
Wrongful eviction of a co-owner.
What are the rights of a co-tenant regarding repairs?
A co-tenant can seek contribution for reasonable and necessary repairs if they notify the other co-tenants.
What is the rule regarding improvements made by a co-tenant?
No right to contribution for improvements during the life of co-tenancies.
What is the action for waste in co-tenancies?
A co-tenant must not commit waste, which can be voluntary, permissive, or ameliorative.
What is the right to partition?
Any joint tenant or tenant in common has the right to bring a partition action.
