future interest

Question 1

Vested Remainders

Answer 1

-A remainder that is certain to become possessory when the prior estate ends.
-Given to an ascertained person (e.g., “to B”).
-Not subject to a condition precedent (other than the natural end of the prior estate).

Question 2

Indefeasibly Vested remainder

Answer 2

No conditions; guaranteed to happen.

Question 3

to A for life, then to B

Answer 3

Indefeasibly Vested

Question 4

Vested Subject to Divestment

Answer 4

Can be taken away by a condition.

Question 5

to A for life, then to B, but if B dies before A, to C.

Answer 5

Vested Subject to Divestment

Question 6

Contingent Remainders

Answer 6

A remainder that is not certain to become possessory because:

It depends on a condition precedent
-It is given to an unascertained person

Question 7

Condition Precedent

Answer 7

Depends on a future event.

Question 8

To A for life, then to B if B survives A.

Answer 8

Condition Precedent

Question 9

Unascertained Person

Answer 9

Given to someone not yet known.

Question 10

to A for life, then to B’s heirs” (but B is alive, so heirs are unknown).

Answer 10

Unascertained Person

Question 11

Executory Interests

Answer 11

divests (cuts short) a prior estate instead of waiting for it to end naturally.
- follows vested subject to divestment

Question 12

Shifting Executory Interest

Answer 12

Cuts off another grantee
-everything else

Question 13

To A for life, then to B, but if B dies before A, to C.”

Answer 13

Shifting Executory Interest

Question 14

Springing Executory Interest

Answer 14

Cuts off the grantor’s interest
-follows reversion

Question 15

To A for life, then to B if B graduates college.”

Answer 15

Springing Executory Interest

Question 16

grantee

Answer 16

the person who receives an interest in property.

Question 17

grantor

Answer 17

the person who gives the interest (the original owner).

Question 18

V for Very certain

Answer 18

Vested Remainders

Question 19

C for Conditional or Cloudy.

Answer 19

Contingent Remainders

Question 20

E for Explosive.

Answer 20

Executory Interests

Question 21

Vested Subject to Open

Answer 21

The remainder is vested in a class of people (e.g., children), but the class can grow.

Question 22

To A for life, then to A’s children and their heirs.

Answer 22

Vested Subject to Open

Question 23

Reversion

Answer 23

When an owner transfers a lesser estate (e.g., a life estate) but does not specify who takes after, the property reverts to the owner or heirs.
-if unexplained gap in possession

Question 24

Possibility of Reverter

Answer 24

Follows a fee simple determinable and automatically returns to the owner if a condition is broken.

Question 25

Right of Entry (Power of Termination)

Answer 25

follows a fee simple subject to condition subsequent and allows the owner to retake possession if a condition is violated.

Question 26

right of entry is

Answer 26

is not transferable

Question 27

possibility of reverter is

Answer 27

alienable

Question 28

A grantor cannot impose a condition that

Answer 28

that prevents the grantee from selling the land if the grant is a fee simple absolute. - need to make it a life estate or subject to condition

Question 29

To A for life, then to A's heirs

Answer 29

contingent, we wont know wjo heirs are until A dies

Question 30

To A, then to A's fisrt child to survive A

Answer 30

We won't know who this is till A dies

Question 31

comma rule

Answer 31

if gift and condition are in the same clause. contingent

Question 32

To A for life, then one year after A’s death, to B

Answer 32

Springing Executory Interest

Question 33

a life estate ends in:

Answer 33

reversion or remainder

Question 34

possibility of reverter

Answer 34

- follows a fee simple determinable - automatically reverts to the grantor if a condition is violated

Question 35

is a possibility of reverter transferrable?

Answer 35

yes

Question 36

right of entry

Answer 36

- follows a fee simple subject to condition subsequent - grantor has to take action to reclaim the property if a condition is violated

Question 37

is right of entry transferrable

Answer 37

no

Question 38

rules against restraints on alienation

Answer 38

total restraints on alienation is invalid to fee absolutes - is generally valid for life estates

Question 39

property can be transferred but the new owners rights end when the life tenant dies

Answer 39

life estates