Future Interests Quiz Flashcards
Question 1: Owner conveys Purple Acre to a for life, then to B, but if B fails to be promoted at work by the time he is 50, then to C.
Answer: A has a life estate, B has a vested remainder subject to executory limitation, C has an executory interest, O has nothing.
Punctuation after life estate that is a vested remainder. C comes after B. Executory Interest follow vested remainders.
Question 2: Owner conveys Lucky Acre to A for life, then to B if she finds the pot of Gold, but if B does not find the pot of Gold to C.
Answer: Owner has a reversion, A has a life estate, B has a contingent reminder, C has a contingent remainder.
Here, the condition is inside the punctuation following the life estate. Contingent remainders follow contingent remainders and there has to be a reversion following a contingent remainder. Executory interests follow vested! If Executory interest, there is no reversion.
Question 3: Owner conveys Tropical Acre to A until he divorces B, then to C.
Answer: A has a fee simple determinable, C has an executory interest, owner and B have nothing.
So long as, while, during, or until = fee simple determinable
If given to third party, it is an executory interest.
You can’t have two different future interests. If A messes up to C, not back to O because he gave away all of his rights.
Question 4: Owner conveys Green Acre to A for life, then to B if he turns 21. A dies before B turns 21. What interest do Owner and B have if the Doctrine Of Contingent Remainders has been abolished?
Answer: Owner has a fee simple subject to executory limitation and B has an executory interest.
Somebody has to have the property while we wait for B to turn 21. While O is holding onto it is a FSStEL and B has Executory limitation. When B turns 21, he has a fee simple absolute, and O has nothing.
This conveyance starts out O —> A for life. Original conveyance in B has to be vested or contingent remainder.
Question 5: Owner conveys Peach Acre to A for the life of B. what interest does everyone have?
Answer: A has life estate per autre vie, O has reversion and B has nothing.
