Estates Flashcards

This deck covers the different types of estates in land, including present possessory interests and future interests. It helps 1L students grasp the classifications, duration, and transferability of estates in real property law. (29 cards)

1
Q

What is a fee simple absolute?

A

An estate with an infinite or perpetual duration; it is devisable, descendible, and alienable.

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2
Q

In general, what are some phrases that indicate that a fee simple is being transferred?

A

Examples include:

  • “To [A] and their heirs”
  • “To [A]”
  • “To [A] in fee simple”

The law will presume a fee simple isf language is ambiguous.

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3
Q

What is a fee simple determinable?

A

A fee simple that automatically ends when a stated event happens.

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4
Q

What type of estate is conveyed using the following language: “To [A], so long as used for residential purposes”?

A

Fee simple determinable

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5
Q

What is a life estate?

A

Property the owner owns for the duration of a life.

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6
Q

What are the two primary rights of a life tenant?

A
  1. Right to possession
  2. Right to rent & earn profits during their term of occupation
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7
Q

What are the four primary duties of a life tenant.

A
  1. Pay property taxes & mortgage interest
  2. Make reasonable repairs
  3. Not commit waste
  4. Pay insurance premiums (in some jurisdictions)
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8
Q

What is the doctrine of waste?

A

The principle that life tenants must keep property in the same condition as when they took ownership.

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9
Q

What are the three primary types or waste?

A
  1. Affirmative (or “voluntary”) waste: intentional and willful damages to the property;
  2. Permissive waste: failure to protect the property from damage through neglect
  3. Ameliorative waste: a life tenant’s improvements to land.
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10
Q

What happens to a life estate once the property owner dies?

A

The property either:

  • Reverts to the original owner (or their heirs, if dead), when then has a fee simple
  • Is passed to a third party, who has a “remainder” which functions as a fee simple
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11
Q

If the following phrases are used, why type of estate is being transferred:

  • “To [A] for life;”
  • “To [A] for life, then to [B] forever”
  • To [A] for life, remainder to [B]”
A

A life estate

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12
Q

Can a remainder follow a fee simple?

A

No. Remainders can only follow life estates, fee tails, and terms of years.

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13
Q

What is the possibility of reverter?

A

The possibility that land reverts to the owner if some event occurs. It can be thought of as a future interest remaining in the property transferor (or their heirs) when a fee simple determinable is created.

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14
Q

What is a vested remainder?

A

A remainder given to an ascertained person that is not subject to a condition precedent.

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15
Q

What is a vested remainder subject to open?

A

A vested remainder in one or more ascertainable members of a class that may be enlarged by addition of presently unascertained persons.

E.g., “To [A] for life, then to the children of [D] and their heirs.”

Also called a “class gift.”

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16
Q

What is a vested remainder subject to divestment?

A

A vested remainder that is subject to a condition subsequent.

E.g., “To [B] for life, then to [C] and her heirs, but if [C] ever smokes a cigar during [B]’s lifetime, then to [D].”

17
Q

What is a contingent remainder?

A

When a remainder is given to an unascertained person OR the remainder is made contingent upon some event occurring other than the natural termination of preceding estates.

E.g., “To [A] for life, then to [B] and her heirs if [B] survives [A].” Here, B can take possession only if B survives A.

18
Q

What is a fee tail?

A

Abolished in most states, a fee tail requires the transfer of property to an owner’s lineal descendants

19
Q

What is a fee simple subject to a condition subsequent?

A

An estate that gives the grantor the power to terminate the interest upon the occurrence of a specific event.

20
Q

What type of estate is transfered using the following language: “To [A] on condition that [A] graduates from law school”?

A

Fee simple subject to a condition subsequent

21
Q

What is the grantor’s future interest in a fee simple subject to condition subsequent?

A

The grantor retains the right to terminate the grantee’s interest upon the occurrence or non-occurrence of some event and affirmatively retake the property.

This is also called the “right of re-entry.”

22
Q

What is a fee simple subject to an executory interest?

A

An estate that is subject to a future interest by a third party, and upon occurrence of an event, the estate will automatically divest in favor of the third party.

E.g.,”To [A], but if [A] doesn’t finish law school, then to [B] and [B]’s heirs”

23
Q

What is a springing executory interest?

A

A future interest in a grantee that divests the grantor’s interest at a future time; the property either reverts back to the grantor at some point, or remains with the grantor until a specified event occurs.

E.g., “Professor [A] conveys Blackacre to the first of his students to become a judge;” “From [A] to [B] for life, then to [S] if he shall become a doctor.” In the second example, possession reverts back to [A] until [S] becomes a doctor.

24
Q

What is a shifting executory interest?

A

A future interest in a grantee that divests another grantee’s possessory or future interest upon the occurrence of some condition. (Shifts from one grantee in another).

E.g., “From [A] to [B], but if [S] should ever be released from prison, to [S].”

25
What is the **key difference** between a **shifting and springing** executory interest?
* A shifting interest cuts short a third party's interest (e.g., "to [A] and her heirs, but if [B] passes the bar, then to [B].") * A springing interest cuts short the grantor's interest (e.g., "to [A] if she passes the bar.")
26
What is the rule against **perpetuities**?
No property interest is good unless it must **vest**, if at all, not later than **21 years** after some life in being at the creation of the interest.
27
To which **types** of estates do you apply the **rule against perpetuities**?
Contingent remainders, vested remainders subject to open, contingent executory interests, and class gifts.
28
What are the **five steps** required to apply the rule against perpetuities?
1. Determine if the rule applies to the future interest. 2. Decide when the perpetuities period begins. 3. Determine what must happen for the interest to vest or forever fail to vest. 4. Identify "validating lives." 5. Test each validating life to determine if the interest will necessarily vest or fail to vest during the period equal to that person's life plus 21 years.
29
Who constitutes a "validating life?"
Persons who can be used as yardsticks to measure the **length of the period**; must have been in being at or before the time at which the interest in question was created. Some examples include the preceding life tenant, the grantee or grantees of contingent interests, and anyone who could affect the identity of the grantee.