Freehold Estates Flashcards
(35 cards)
Language to create a Fee Simple Absolute:
“To A and his heirs” or “To A”
What is the Duration and Transferability of a Fee Simple Absolute?
Duration: Absolute ownership, of potentially infinite duration;
Tranferability: Passes automatically to grantee’s lineal descendants
What future interests are created by a Fee Simple Absolute?
None
Language to Create a Fee Tail:
“To A and the heirs of his body”
Language to create a basic Defeasible Fee:
“To A so long as…”
Language to create a Fee Simple Determinable:
“To A until…”
“To A while…”
Language providing that upon the happening of a stated event, the land is to revert to the grantor
Language to create a Fee Simple Subject to a Condition Subsequent:
“To A, but if X event happens, grantor reserves the right to reenter and retake.”
Grantor must carve out right of reentry.
Language to create a Fee Simple Subject to an Executor Limitation
“To A, but if X event occurs, then to B.”
Language to create a Life Estate:
“To A for life.”
“To A for the life of B.”
What is the Duration and Transferability for a Fee Tail?
Duration: lasts only as long as there are lineal blood descendants of grantee
Transferability: Passes automatically to grantee’s lineal descendants
What is the Duration and Transferability for a Fee Simple Determinable?
Duration: Potentially infinite, so long as event does not occur.
Transferability: Alienable, devisable, descendible, subject to the condition.
What is the Duration and Transferability for a Fee Simple Subject to Condition Subsequent?
Duration: Potentially infinite, so long as the condition is not breached and, thereafter, until the holder of the right of entry timely exercises the power of termination.
Transferability: Alienable, devisable, descendible; subject to the condition.
What is the Duration and Transferability for a Fee Simple subjecto to an Executor Limitation?
Duration: Potentially infinite, so long as stated contingency does not occur.
Transferability: Alienable, devisable, descendible, subject to the condition.
What is the Duration and Transferability for a Life Estate?
Duration: Measured by the life of tranferee or by some other life (pur autre vie);
Transferability: Alienable, devisable and decendable if pur autre view and measuring life is still alive.
What is the future interest created by a Fee Tail?
Reversion (if held by grantor); Remainder (if held by third party)
What is the future interest created by a Fee Simple Determinable?
Possibility of Reverter (held by grantor)
What is the future interest created by a Fee Simple subject to a Condition Subsequent?
Right of Entry/Power of Termination (held by grantor)
What is the future interest created by a Fee Simple subject to an Executive Limitation
Executory Interest (held by third party)
What is the Future Interest created by a Life Estate
Reversion (if held by grantor); Remainder (If held by third party)
What is a Fee Simple Absolute?
The grantor creates in another absolute ownership of potentially infinite duration. It is freely devisable, decendable, and alienable.
Does the Fee Tail still exist in the U.S.?
No. It is practically abolished in the U.S.
What is a Fee Simple Determinable?
The grantor uses clear durational language that creates a fee simple with a catch. If the stated condition is violated, then forfeiture is automatic.
What is the mnemonic to remember what the Fee Simple Determinables accompanying future interest?
F.S.D.P.O.R.
Fee Simple Absolute = Possibility of Reverter
How to create a Fee Simple Subject to Condition Subsequent?
Grantor must use clear durational language and state the right to reenter.
