estates and future intrests

Question 1

What is waste?

Answer 1

Conduct by a life tenant that permanently impairs the value of the land or the value of a subsequent estate in the land

Question 2

Types of waste

Answer 2

§ Voluntary waste: an affirmative act that significantly reduces the value of the land

§ Permissive waste: failure to take reasonable care to protect the estate

§ Ameliorative waste: an affirmative act that leads to a substantial change in the property and increases its value

Question 3

Common law rule of waste

Answer 3

Anything that alters the identity of the property is deemed to be waste, regardless of whether the change is beneficial or not.

Question 4

Woodrick rule for waste

Answer 4

Waste only occurs when the alterations reduce the value of the land, ameliorative waste is allowed

Question 5

What are the defeasible fees

Answer 5

Defeasible fees are fees that could potentially last forever but may end if certain conditions are met

• Fee simple determinable
• Fee simple subject to a condition subsequent
• Fee simple subject to an executory limitation

Question 6

What is the difference between a fee simple determinable and a fee simple subject to a condition subsequent?

Answer 6

• Fee simple determinable: words of duration, the possibility of reverter activates immediately.
• Fee simple subject to a condition subsequent: words of condition, right of entry must be elected within a reasonable time.

Question 7

Words of duration

Answer 7

Create an FSD ( So long as, while, during,…)

Question 8

Words of condition

Answer 8

Create a FSSCS (Provided that, but if, on condition that, If )

Question 9

Future interests held by the Grantor (reversionary interest)

Answer 9

○ Reversion
○ Possibility of reverter
○ Right of entry

Question 10

Closing of a class gift

Answer 10

Determines the maximum number of members in the class
◊ Naturally: when it is impossible for new members to enter the class
◊ Convenience (majority rule) : Class closes when one member of the class is entitled to demand actual possession of the property.

Question 11

Condition subsequent

Answer 11

A condition which will deprive the remainderman of the right of possession Before they gain possession if it occurs

Question 12

What are the 4 unities that are needed for joint tenancy and tenancy by the entirety?

Answer 12

□ Time: acquired at the same time
□ Title: Created in the same document
□ Interest: They must have the same shares in the estate, equal in size and duration
□ Possession:

Question 13

What are the two types of partition

Answer 13

Partition in Kind and Partition by (judicial) sale

Question 14

What do courts consider when deciding to use partition by sale?

Answer 14

1) whether the property can’t be conveniently partitioned by kind
2) that the interest of one or more of the parties will be promoted by the sale
3) the interests of the other party will not be prejudiced by the sale. Along with longstanding ownership and connection to the property