Present Estates II

Question 1

Fee simple _______ is the most unrestricted and longest estate.

Answer 1

Fee simple absolute is the most unrestricted and longest estate.

Question 2

What are the three types of Fee Simple Defeasible?

1) Fee simple _______
2) Fee simple ___________
3) Fee simple ____________

Answer 2

What are the three types of Fee Simple Defeasible?

1) Fee Simple Determinable
2) Fee Simple Subject to Condition Subsequent
3) Fee Simple Subject to an Executory Limitation

Question 3

A fee simple _______ is a fee simple, which automatically comes to an end when a stated event occurs (or fails to occur). Most often, it is used to prevent the property from being put to a certain use.

Answer 3

A fee simple DETERMINABLE is a fee simple, which automatically comes to an end when a stated event occurs (or fails to occur). Most often, it is used to prevent the property from being put to a certain use.

Question 4

A fee simple __________ provides for the estate to pass to a third person upon the happening of the stated event.

Answer 4

A fee simple SUBJECT TO EXECUTORY LIMITATION provides for the estate to pass to a third person upon the happening of the stated event.

Question 5

A __________ is an interest, which lasts for the lifetime of a person.

Answer 5

A life estate is an interest, which lasts for the lifetime of a person.

Question 6

What is A’s interest?

O to convey “to A and his heirs, but if A dies without children, then to B and his heirs”

Answer 6

FEE SIMPLE SUBJECT TO EXECUTORY LIMITATION

Question 7

What is A’s interest?

O to convey “to A during the election”.

Answer 7

FEE SIMPLE DETERMINABLE

Question 8

What is A’s interest?

O to convey Blackacre “to A”

Answer 8

FEE SIMPLE ABSOLUTE

Question 9

What is A’s interest?

O to convey “to A and his heirs, but if A dies without children, then to B and his heirs”.

Answer 9

FEE SIMPLE SUBJECT TO EXECUTORY LIMITATION

Question 10

O to A for A’s life. Then A dies, devising her entire estate to B. What is the duration of B’s estate?

Answer 10

B has no estate. Upon the death of A, the life estate end.

Question 11

O conveys to A for life. Then A conveys to B for 2 years. One month later A dies. What is the duration of B’s estate?

Answer 11

No more. B’s estate ends when A dies.

Question 12

O conveys to A and his heirs. Then A conveys to B for 2 years. One month later A dies. What is the duration of B’s estate?

Answer 12

B’s estate is unaffected by A’s death. B has one more year of possession left.

Question 13

What interest does O have if O conveys to A for A’s life? What interest does A have?

Answer 13

A has a life estate. O has the right to possession after A dies.

Question 14

What interest does O have if O conveys to A for B’s life? What interest does A have?

Answer 14

A has a life estate. (B is the measuring life)

O has the right to possession after B dies.

Question 15

O conveys to A for life. A immediately conveys to B. What is the duration of B’s estate?

Answer 15

B has a life estate, measured by the life of A.

Question 16

O conveys to A and her heirs until A divorces, then to O.

Answer 16

Fee Simple Determinable

Question 17

O conveys to A and her heirs during the time that A is married, then to O.

Answer 17

Fee Simple Determinable

Question 18

O conveys to A and her heirs, but if A divorces, then back to O.

Answer 18

Fee Simple Subject to a Condition Subsequent

Question 19

O to A and her heirs, provided that A does not divorce and if A divorces, then to O.

Answer 19

Fee Simple Subject to a Condition Subsequent

Question 20

O to A and her heirs.

Answer 20

Fee Simple Absolute

Question 21

What type of Fee Simple Defeasible uses words like:

until, so long as, while, during

Answer 21

Fee Simple Determinable

These words of temporal limitation indicate that the duration of the estate being conveyed is actually by the added limitation.

Question 22

O to A and her heirs, however, if A divorces, then to O.

Answer 22

Fee Simple Subject to a Condition Subsequent

Question 23

What type of Fee Simple Defeasible uses words and phrases like:
but if, provided that, on condition that, however

Answer 23

Fee Simple Condition Subsequent

Question 24

Which kind of estate ends automatically upon the happening of a limiting condition: a fee simple determinable estate or a fee simple subject to condition subsequent?

Answer 24

Fee Simple Determinable

Question 25

Transfer: O to A for life, remainder to B. What is A's interest? What is B's interest?

Answer 25

A has a life estate. | B has a vested remainder.

Question 26

O to A for life. What is A's interest? What is O's interest?

Answer 26

A has a life estate. | O has a reversion.

Question 27

Definitions: _____________ is any legal right associated with specific property.

Answer 27

an Interest An interest is any legal right associated with specific property.

Question 28

Definitions: _____________ is a current ownership right where the owner must wait until a future time to take possession of the property.

Answer 28

Future Interest A Future Interest is a current ownership right where the owner must wait until a future time to take possession of the property.

Question 29

Definitions: _____________ is a present or future possessory interest in property.

Answer 29

Estate An Estate is a present or future possessory interest in property.

Question 30

Definitions: _____________ is a current ownership right where the owner has right to current possession.

Answer 30

Present Interest A Present Interest is a current ownership right where the owner has right to current possession.

Question 31

Definitions: ________ are a category of estate consisting of Fee Simple, Life Estates and Fee Tail (where applicable).

Answer 31

Freehold Estates Freehold Estates are a category of estate consisting of Fee Simple, Life Estates and Fee Tail (where applicable).

Question 32

Definitions: Property is _____ if the owner can transfer ownership by a will (testamentary transfer).

Answer 32

Devisable Property is devisable if the owner can transfer ownership by a will (testamentary transfer).

Question 33

Definitions: Property is _____ if the property can still pass to the owner’s heirs even if the owner dies without a will (intestate).

Answer 33

Inheritable (aka Descendible) Property is inheritable if the property can still pass to the owner’s heirs, even if the owner dies without a will (intestate).

Question 34

Definitions: Property is _____ if the owner can sell or gift the interest during the owner's lifetime (inter vivos transfer).

Answer 34

Alienable (aka assignable, transferrable) Property is Alienable if the owner can sell or gift the interest during the owner's lifetime (inter vivos transfer).

Question 35

Definitions: ___________: the chance that property might return to the granter upon the happening of the condition subsequent.

Answer 35

Possibility of Reverter Possibility of Reverter: the chance that property might return to the granter upon the happening of the condition subsequent.

Question 36

Definitions: A __________ is a present possessory estate followed by a possibility of reverter in the grantor.

Answer 36

Fee Simple Determinable A Fee Simple Determinable is a present possessory estate followed by a possibility of reverter in the grantor.

Question 37

Definitions: ________: The grantor's right to retake property upon the occurrence of the condition subsequent.

Answer 37

Right of Re-Entry Right of Re-Entry: the grantor’s right to retake property upon the occurrence of the condition subsequent.