Estates In Land Flashcards
(23 cards)
Fee Simple Absolute
Largest estate, can last forever, absolute ownership
What is an example of fee simple absolute?
My mansion to ‘A’, to ‘A’ and his heirs
Can you transfer a fee simple absolute?
Yes
Can you leave your fee simple absolute to another in your will?
Yes
What are the defeasible fees?
- Fee simple determinable
- Fee simple subject to condition subsequent
- Fee simple subject to executors limitation
Fee Simple Determinable
Conditioned created by clear durational language WITH a possibility of Reverter
What is an example of fee simple determinable?
To ‘A’ so long as she is a lawyer
What happens if a stated condition is violated in a fee simple determinable?
That’s it, void
Can you transfer a fee simple determinable?
Yes, but it is always subject to the stated condition thus the condition never disappears
Fee Simple Subject to Condition Subsequent
Clear durational language with a clear statement of the right of reentry
What is an example of fee simple subject to condition subsequent?
To Rachel, but if coffee is ever absorbed on sight, grantor reserves the right to re-enter and take
Can a fee simple subject to condition subsequent be automatically terminated?
No, but it can be cut short at the grantor’s request
Who has the power of termination in a fee simple subject to condition subsequent?
Grantor
Fee Simple Subject to Executory Limitation
If condition is not met, it goes to a third-party and not the grantor
Reverter
The grantor doesn’t have to do anything, they immediately get the title back
Reentry
The grantor has to come back and do something
What is an example of a fee simple subject to executory limitation?
To ‘A,’ but if she ever leave the legal profession, then to ‘B’
In a fee simple subject to executory limitation, what happens when breached?
Automatic forfeiture and straight to the third-party
In a fee simple subject to executory limitation, can you restrict the grantee’s power to sell or transfer?
No
Life Estate
Measured in explicit lifetime terms and never in terms of years, FOREVER
What is an example of a life estate?
To ‘A’ for life
What happens when the owner of a life estate dies?
Back to the Grantor
What can’t a life estate tenant commit?
Waste
