Flashcards in Present Estates Deck (58)
what are the 4 present estates
1) fee simple absolute
2) fee tail
3) defeasible fees (3 species)
4) life estate
what does land that is devisable mean
it can pass by will
what does land that is descendible mean
it will pass by statutes of intestacy
what land that is alienable mean?
are CL words "to a and his heirs" needed today for FSA
- To A alone is enouhg
what does FSA mean?
absolute potentially infinite duration
1) freely divisible
2) descendible and
if stated FSA to A and A's heirs. What does A's heirs have?
- only A has FSA
does a living person have heirs
NO. A living person only has prospective heirs
what a fee tail language
To A and the heirs of his body
has the fee tail been abolished
what does creating a fee tail do?
what does creating fee tail in IL do?
creates LIFE ESTATE in A and remainder in A's lineal blood descendants
what are the 3 defeasible fees
1) fee simple determinable
2) fee simple subject to condition subsequent
3) fee simple subject to executory limitation
how to create fee simple determinable language
To A for so long as...
To A during...
To A until...
does the grantor need to use clear durational language to create fee simple determinable
what happens if the stated condition of a fee simple determinable is violated
what are the distinguishing characteristics of a fee simple determinable
estate like all of the defeasible fees are
2) descndible and
3) alienable but always subject to condition
can a person grant more than what they have
NO nemo dat.
- You may convey less than what you started with, but you cannot convey more, in other words "you cant always get what you want
what does the grantor obtain with a fee simple determinable
POSSIBILITY OF REVETER (automatic)
what is the acrnoym to know for fee simple determinable (FSDPOR)
frank sinatra didnt prefer orville redenbacher
- Fee simple determinable
- Possibility Of Reveter
how to create a fee simple subject to condition subsequent
To A, but if X event occurs, grantor reserves the right to re-enter and take
what must grantor do for language for fee simple subject to condition subsquent
grantor MUST use clear duration language and STATE right to reneter
does the grantor need to state the right to re-enter for a fee simple subject to condition subsequent
does the estate automatically end for fee simple subject to condition subsequent
NO. but can cut short if stated condition occurs. Grantor must have RIGHT TO RE-ENTER
what is the future interest in fee simple subject to condition subsequent
right of re-entry
how to create a fee simple subject to EXECUTORY INTEREST
to A, but if X event occurs, to B
distinguishing characteristics of fee simple subject to executory interest
estate is AUTOMATICALLY FOREFITURED in favor of
2) SOMEONE other than grantor
is the condition of a fee simple subject to executory interest automatic
what is the difference b/w a fee simple subject to executory interest and fee simple determinabile
both end automatically on certain event, but
FSSE= goes automatically to 3rd party
FSD= goes automatically to grantor