interests and estates

Question 1

what do estates represet

Answer 1

represents a person’s rights of ownership in land

Question 2

what do estates represent/answer

Answer 2

it specific that the ownership rights will last for a specified time period; answers how long

Question 3

how do we refer to landowners title

Answer 3

Interest in estate

Question 4

what are the two types of freehold estates and describe them

Answer 4

fee estates- not measured by someones life

life estate - measured by someones life

Question 5

examples of fee estate conveyence

Answer 5

to a
to a and his heirs
to a as long as

Question 6

examples of life estate conveynece

Answer 6

to a for life
to a as long as he lives

Question 7

four types of fee estates

Answer 7

Fee simple absolute
Fee simple determinable
Fee simple subject to condition subsequent
Fee simple subject to executory limitation

Question 8

what are defeasible fees and which freeholds are defeasible fees?

Answer 8

defeasible fees= means they are subject to termination

Fee simple determinable, subject to condition, and subject to executory limitation

Question 9

what is a fee simple absolute and what are the phrases that we look for?

Answer 9

The estate that has no restrictions in the title
The owner can use the land WITHOUT restriction; no contingency or circumstance that could either divest, cut short, or terminate the owner’s title

Phrases to look for
To A
To A and his heirs
To A in fee simple

Question 10

what is a fee simple determinable and what are the phrases we look for?

Answer 10

its duration based;

When a grantor grants the land for a duration that is measured by the continued existence of a circumstance

The grantor places a CONTINGENCY on the fee estate, and if that contingency is met, the fee state reverts back to the grantor AUTOMATICALLY

Phrases to look for
While
During
Until
So long as

Question 11

what is a fee simple subject to condition subsequent and what are the trigger phrases

Answer 11

condition based

When a grantor transfers land to a grantee on a SPECIFIC CONDITION that some circumstance continues to exist

A contingency is made via the condition, and if the contingency occurs, the fee estate reverse back to the grantor

Note – unlike the
determinable, if the conditional contingency occurs here, the grantor MUST ACT to exercise here right to take back title to the land

Phrases to look for
Provided that
On condition that
If
But if
Provided
However
Unless

Question 12

what is a fee simple subject to executory limitation and what are the trigger phrases

Answer 12

When a grantor transfers land to a grantee, but upon the occurrence of a contingency, title to the land transfers to some other person who is not the grantor

Title to the land AUTOMATICALLY transfers to the third party on the happening of the contingency

There are no trigger words here, just look for language that shows that a third party will receive the title upon the happening of the contingency

Question 13

who is the grantor

Answer 13

the person transferring the land

Question 14

who is the grantee

Answer 14

the person getting the land

Question 15

what is a life estate pur autre vie

Answer 15

when the length of the life estate is measured by someone other than the person who holds the life estate

Question 16

ex of fee simple determinable

Answer 16

To bill SO LONG AS it has no pond

Question 17

ex of fee simple subject to condtion subsequent

Answer 17

To bill provided that it has no pond

Question 18

ex of fee simple subject to executory limitation

Answer 18

To bill so long as it has no pond while b is alive; otherwise to oprah

Question 19

what is the difference between a fee simple determinable and a fee simple subject to condtion subsequent

Answer 19

determinable = ends automaticallu upon the happening of the condtion subsequen

condtion subsequent= doesnt automatically end; the grantor has to assert his right of entry

Question 20

what does it mean by saying that a life estate is alienable inter vivos

Answer 20

means that its transferable during the life tenants life by the life tenant for a term lasting so long as the og life tenant lives

Question 21

how do we know if something is a fee simple or a life estate

Answer 21

a judge will first read the plain lang of the document attempting to ascertain the grantor or testators intent

Question 22

what question does ‘estate’ answer

Answer 22

how long?

Question 23

what question does ‘interst’ represet

Answer 23

when?

Question 24

what is a present interest and what is a future interest

Answer 24

Present interest- when the person can immediately begin exercising their rights to the land

Future interest- represents a future time at which a property owner may exercise rights to possess the land

Question 25

what is a possibilty of reverter

Answer 25

The fi associated with the fee simple determinable ; it is what the grantor retains when they give a fee simple determinable to the grantee

Question 26

how do you descirbe the interest a grantee holds when he transfers a fee simple determinable

Answer 26

possibility of reverter in a fee simple absolute

Question 27

is the possibilty of reverter automatic?

Answer 27

yes, once the condtion is met/broken the grantor gets it back automatically

Question 28

Ex: O conveys land to A WHILE A is a member of the church -- who holds what and what will happen if A is no longer a member of the church?

Answer 28

A holds a present interest in a fee simple absolute O holds a possibility of reverter in a fee simple absolute If the duration ends via A no longer being a member, O will hold a present interest in fee simple absolute

Question 29

what is a right of entry

Answer 29

The fi associated with fee simple subject to condition subsequent Also held by the grantor Different because while the grantor is given the power to get the estate back, they must RETAKE THE estate – its not automatic!

Question 30

Ex: O gives land to A PROVIDED, HOWEVER, that A continues to be a member of the church -- who holds what

Answer 30

A holds a present interest in fee simple subject to condition subsequent O holds a right of entry in fee simple absolute

Question 31

what is an executory interest

Answer 31

The fi associated with fee simple subject to executory limitation ; While the other two deal with the land going back to the grantor, this one deals with the land transferring to a third party The third party automatically takes the fee simple absolute on the happening of the event

Question 32

Ex: o gives land to A, provided, however, that A remains enrolled as a student; OTHERWISE TO C -- who holds what

Answer 32

A= holds a present interest in a fee simple subject to executory limitation C= holds shifting executory limitation in a fee simple absolute O=holds nothing

Question 33

what are the two types of executory interest?

Answer 33

shifting= the most common; when the estate is cut short it SHIFTS from the og grantee to a third party This shift to the third party is automatic springing= occurs when, at the time of the conveyance, the grantor does not transfer a present interest to anyone; he retains the present interest for himself, conveying only a FI to a third party; usually follows a gap in time

Question 34

Ex: alex conveys land to betty(who is single) but places a condition that betty only takes title when she marries frank who holds what

Answer 34

Betty will never hold a present interest in the land UNTIL she marries frank Alex- holds the present interest in a fee simple subject to executory limitation Betty: holds a springing executory interest in fee simple absolute

Question 35

O conveyed Blackacre to A and his heirs, but if A uses blackacre for commercial purposes, then to B. -- who owns what

Answer 35

A- present interest in a fee simple subject to an exectory limitation b- shifting execotry interst in a fee simple absolute

Question 36

what is the FI for the fee simple

Answer 36

there is none!

Question 37

what are the two FIs for life estates

Answer 37

reversion and remainder

Question 38

Fee simple determinable FI

Answer 38

Possibility of reverter in fee simple absolute –automatic

Question 39

Fee simple condition subsequent FI

Answer 39

Right of entry in fee simple absolute – not automatic

Question 40

Fee simple sub to executory limitation FI

Answer 40

Executory interest in fee simple absolute -two types (shifting and springing)

Question 41

How do you spot a sprining exectuory limittaion

Answer 41

you should alwasy look to see who holds the PI at the time of the conveyence; if its the grantor, then the grantee will hold a sprining, if the grantee holds the PI, then the named third party holds a shifitng

Question 42

whats the rule for springining exectory limitation

Answer 42

when an executory interest cut short the grantor’s interests, it is a springing interest, and the grantor holds a present in a fee simple subject to executory limitation

Question 43

what is a reversion

Answer 43

the future interest that a grantor holds and that follows after a life estate of the grantee AKA it REVERTS BACK to the grantor

Question 44

Ex: o conveys land to A for life -- who holds what

Answer 44

A= present interest in a life estate O=a reversion in fee simple absolute

Question 45

what is a remainder

Answer 45

life estate FIs going to a third party; two types -- contigent and vested

Question 46

what is a contingent remainder

Answer 46

a remainder that is subject to a condition precedent Condition precedent= a condition that must be met before the remainder can be realized ie you get the remainder if a contingency occurs in the future

Question 47

O to A for life, then to C if C paints his garage door blue. -- who holds what

Answer 47

A holds a present interest in a life estate C holds a contingent remainder in fee simple absolute O holds a reversion in a fee simple absolute O holds a reversion because if C never paints the door blue, we can assume that the land goes back to the grantor

Question 48

name the three types of vested remainders (ie the FI of a life estate going to a third party)

Answer 48

Indefeasibly vested remainder Vested remainder subject to divestment Vested remainder subject to open

Question 49

what is a vested remainder

Answer 49

one that is NOT contingent on some future event happening

Question 50

what is an Indefeasibly vested remainder-

Answer 50

a remainder that can't be stripped away by some event or condition; once vested, the indefeasibly vested remainder stays

Question 51

Ex: O to A for life, then to B -- who holds what

Answer 51

A holds a present interest in a life estate B holds an indefeasibly vested remainder in fee simple absolute

Question 52

what is a Vested remainder subject to divestment

Answer 52

a vested remainder that CAN BE CUT SHORT if some future event or condition occurs the person who will take the property if the remainder is cut short holds an executory interest.

Question 53

Ex: O to A for life, then to B, but if B ever divorces his spouse, then his interest in the property shall go to D who holds what

Answer 53

A holds a present interest in a life estate B holds a vested remainder subject to divestment in fee simple subject to executory limitation D holds a shifting executory interest in fee simple absolute

Question 54

what is a Vested remainder subject to open

Answer 54

when a person holding a vested remainder (ie a remainderman) can be joined in the future by another remainderman in a CLASS

Question 55

what is a class (ie in relation to a vested remainder subject to open ) and when is it considered open

Answer 55

A class is a designated group that could possibly consist of more than one person or member Ex: a class may be designated via ‘my children’ A class is open when the number of members could increase , however, if there is no logical way for the class to increase in size, the class is closed

Question 56

Ex: to fred for life, then to fred’s children. – at the time of the conveyance, fred only has one child, pebbles who holds what?

Answer 56

Fred holds a present interest in a life estate Pebbles holds a vested remainder subject to open in fee simple absolute Because is is possible that fred could have more children, that unborn child would join pebbles as a remainderman

Question 57

what happens when unborn children are part of the class of remaindermen

Answer 57

they hold continent remainders (with the contingency of being born)

Question 58

whats a good image to think of with a vested remainder subject to divestment?

Answer 58

think about somone snacthing a sweater vest from you; the remainder (ie the sweater vest) is yours, but if you do something and fufil the condtion, it gets snacthed from you

Question 59

what do you need to remember about the vested remaider subject to open

Answer 59

that we are talking about a potential class/group of people that are sharing the remainder

Question 60

what do you need to rememeber if there is a contignecy attached to a class that is open

Answer 60

it can't be a vested remainder subject to open because it is a contingency!

Question 61

what needs to go through your head when you see a a contingent remainder, vested remainder subject to open, and executory interest

Answer 61

I NEED TO GO THROUGH THE RAP TEST!