Present Estates & Future Interests

Question 1

Types of Present Possessory Estates

Answer 1

Fee Simple Absolute
Defeasible Fee (3 types)
Life Estate

Question 2

Fee Simple is created with this language

Answer 2

“To A” or “To A and his heirs.”
fee simple is presumed in the absence of express contrary intent (CL language “and his heirs” are not necessary)

Question 3

Devisable Definition

Answer 3

capable of passing by will

Question 4

Descendible Definition

Answer 4

capable of passing by intestacy (when no will left)

Question 5

Alienable Definition

Answer 5

the estate is transferable inter vivos aka during the holder’s lifetime

Question 6

Anti-Lapse Statutes
(define and explain)

Answer 6

• A lapse occurs when the beneficiary of a gift in a will dies before the testator
• At CL if lapse occurred, the gift was void
• Now nearly all states have anti-lapse statutes that permit the gift to pass to the predeceasing beneficiary’s living descendant(s) under certain circumstances
• Degree of relationship is common