Estates In Land Flashcards
(39 cards)
Few simple absolute
Can be sold, divided, devised, or inherited and had an indefinite potentially infinite duration.
“To A (and his heirs)”
Fee simple determinable (and possibility of reverter)
Terminates upon the happening of a stated event and automatically reverts to the grantor.
Created by durational language.
To A... “For so long as” “While” “During” “Until”
Grantor automatically retains a possibility of reverter, a reversionary future interest.
Few simple subject to condition subsequent (and right of entry)
Estate in which the grantor reserves the right to terminate the estate upon upon he happening of a states event.
Estate does not automatically terminate - grantor must take action.
Created with conditional words…
“Upon condition that”
“Provided that”
“But if”
Correlative future interest in grantor: right of entry. Must be expressly reserved. Doesn’t arise automatically. Right of entry is decidable and descendible.
Few simple subject to executors interest
If a few simple estate terminates upon the happening of a stated event and then passes to a third part rather than reverting back to grantor or giving grantor right to terminate. Third party has an executory interest.
“To A so long as…but if…to B”
Conditions and limitations violating public policy are struck down and the grantee takes free of restraint.
Life estate
Measured by the life or lives of people. May be created by operation of law or conveyance.
Usual life estate measured by life of the grantee.
“To A for life”.
“To B after the life of A”.
Life estate pur autre vie
Measured by a life other than the grantee’s. Also results when the life tenant conveys his life estate to another.
“To A for the life of B”
Rights & Duties of Life Tenant - Doctrine Of Waste
Life tenant entitled to the ordinary uses and profits of the land but cannot do anything that injures the interests of a remainderman or revisioner.
Future interest holder may sue for damages or enjoin such acts and if she spends money to perform life tenants obligations she is entitled to reimbursement.
Voluntary waste
Permissive waste
Ameliorative waste
Voluntary waste - natural resources
Exploitation of natural resources by life tenant usually limited to situations when
P U R G E
- Prior Use, prior to grant land used to exploitation
Prior use & Open mines Doctrine: if mining was done on the land to life estate, life tenant can continue mining- but is limited to the mines already open.
- Reasonable Repairs & maintenance of land
- Grant: life tenant may exploit is expressly granted right to do so.
- Exploitation: The land is suitable only for exploitation
Permissive waste
Life tenant obligated to:
- Preserve the land and structures in a reasonable state of repair
- Pay interest on mortgages
- Pay ordinary taxes on the land
- Pay special assessments for public improvements of short duration
Permissive waste occurs when life tenant fails to do these things.
Life tenant not responsible for insuring the premises for the benefit of remainder men and isn’t responsible for third party tortfeasors.
Ameliorative Waste
Change that benefits property economically. Life tenant may alter or even demolish existing buildings if:
- The market value of the future interests is not diminished; and either
- The remaindermen do not object; or
- A substantial change in the neighborhood conditions has deprived the property in its current form of reasonable productivity or usefulness.
Future interests
Give holder the right or possibility of future possession of an estate.
Present legally protected right in property.
Possibility of Reverter
Fee simple determinable
“To A so long as alcohol isn’t used on the premises”
Estate automatically reverts to grantor upon occurrence of stated event
Transferable, descendible, devisable
Right of entry
Fee simple subject to condition subsequent
To A on condition that if alcohol is used on premises, O shall have right to re-enter and retake premises.
Estate does not revert automatically; grantor must exercise his right of entry.
Descendible and devisable, but some courts hold not transferable inter vivos.
Reversion
Estate left in grantor who conveys less than she owns.
O conveys “to A for life”; O has reversion.
Arises by operation of law; need not be expressly reserved.
Alienable, devisable, inheritable.
Remainders
Future interest in a third person that can become possessory on the natural expiration of the proceeding estate.
Remainders are either vested or contingent.
Cannot divest or cut short a prior estate.
Must be expressly created in the instrument creating the proceeding possessory estate.
“O coneys to A for life, then to B”; B has a remainder.
Contingent Remainders
A remainder is contingent if:
- It is created in an unascertained or unknown person or
- It is subject to an unmet condition precedent or both
Contingent remainder created in unascertained or unknown person
“To A for life, the. To B’s first child.”
A is alive. B as yet has no children so his heirs are unknown.
Contingent remainder b/c subject to an as yet unmet condition precedent
A condition is or cede the if it must be satisfied before the remainderman has a right to possession
O conveys “to A for life, the. To B if B married C.”
B’s remainder is contingent b/c he must marry C before he can take possession.
Contingent remainder & merger doctrine
When one person acquires all of the present and future interests in land except a contingent remainder, under the common law, the contingent remainder is destroyed.
Indefeasibly Vested Remainder
A vested remainder is one created in an existing and ascertained person, and not subject to a condition precedent.
Remainderman has a right to immediate possession upon normal termination of the proceeding estate. An indefeasibly vested remainder is a vested remainder that is not subject to divestment or diminution.
Vested Remainder Subject to Open
There is a vested remainder created in a class of persons that is certain to become possessory, but is subject to diminution; by the birth of additional persons who will share in the remainder of the class.
O conveys “to A for life, then to the children of B.” A and B are living and B has one child, C. C had a vested remainder subject to open.
Vested remainder subject to total divestment/complete defeasance
This is a vested remainder subject to a condition subsequent.
O conveys “to A for life, the. To B and his heirs; but if B does unmarried, then to C and his heirs.
B has a vested remainder subject to complete divestment by C’s executory Interest.
Executory interests
Executory interests are future interests created in a transferee third party that either divests a transferee’s preceding freehold estate (“shifting interest”), or follows a gap in possession or cut short a grantor’s estate (springing interests)
Springing executory Interest
A springing executory Interest cuya short the interest of O, the grantor.
In a grant from O “to A and his heirs when A marries B,”
A has a Springing executory Interest b/c it divests the grantor’s estate.
