Present Estates, Future Estates, Concurrent Estates Flashcards
(10 cards)
1
Q
Present Estates: VA Recognition
A
- VA Recognizes Fee simple, Life Estate
- VA Does not recognize “Fee tail” (…& heirs of their body), this will just turn into a FSA
2
Q
Future Interests: Alienability
A
- Future Interests in VA are always alienable (not always alienable in common law)
3
Q
Future Interests: Types of Future interest Claims
A
- Possibility of Reverter: For FSD
- Reversion: for anything other than a FSD or FSSTCS
- Right of Reentry: for FSSTCS
- In VA the holder of a right of reverter or reentry has 10 years to claim, and the period begins when the triggering event occurs.
4
Q
Future Interests: Destructibility of Contingent Remainders
A
- Common law: A contingent remainder that did not vest by the end of the preceding estate is automatically destroyed
- VA: Has repealed this rule, instead the interest becomes an executory interest and the holder has it until contingency occurs
5
Q
Future Interests: Shellys Case & Worthier Title
A
- Abolished in VA
6
Q
Future Interests: RAP
A
- VA has the USRAP, which asks whether the interest will vest within 90 years
- So, in VA, you ask if the rule follows the common law RAP (21 years of validating life death) or the USRAP (90 years)
7
Q
Concurrent Estates: Types Recognized
A
- TIC, JT, and TBTE
8
Q
Concurrent Estates: Joint Tenancy
A
- VA law requires express language regarding the right of survivorship to create a JT (“with right of survivorship”)
- Slayer Rule application: if one of the JT’s kills the other, they predecease them, and the slain JT’s heirs take the entire property
9
Q
Concurrent Interests: Tenancy by the Entirety
A
- Does not need to have express language to create
- Ends automatically at divorce, and you need consent to alienate (same as common law)
10
Q
Concurrent Estates: Repairs
A
- a tenant who makes repairs can require reimbursement from others in the event of partition
