Property Flashcards
(22 cards)
Deed is terminated by
reconveyance, not destruction
Doctrine of adverse possession ripens a possessory right into title in fee simple absolute when
possession is
(1) actual
(2) open and obvious (usual use to put one with the exclusive right of possession on notice)
(3) continuous for the entire statutory period, unless tacking
(4) hostile (without permission of one with the exclusive right of possession)
Under CL, bona fide purchaser for value status against earlier conveyances
auto lose
first in time and right, sans recording statute
Under notice recording, BFPforV status against earlier conveyances
(1) earlier conveyance not recorded,
(2) no actual know, no inquiry not
*recording irrelevant for earlier, recording necessary for later
Under race recording, BFPforV status against earlier conveyances
(1) earlier conveyance not recorded,
(2) first to record
*actual knowledge or inquiry notice irrelevant
Under race recording, BFPforV status against earlier conveyances
(1) earlier conveyance not recorded, notice irrelevant
Under race recording, BFPforV status against earlier conveyance
earlier not record,
Diagram of Present and Future Interests
Present Interests - Restraints on Alienation - Disabling Restraint
O to A for life. A has no right to transfer interest.
invalid b/c all disabling restraints on legal interests (life estate, fee simple) are invalid.
O can’t force A to hold the property for life.
Present Interest - Restraint on Alienation - Partial Forfeiture
O to A, any attempt to transfer forfeits interest.
valid b/c partial forfeiture restraints are valid if reasonable. Reasonable is for require holding for limited time
same for vested future interests, O can force vested remainders to hold their interest otherwise forfeit.
remainder
future interest capable of becoming possessory that is capable of results from the possessory estate’s termination
contingent remainder
vested remainder
indifeasibly vested remainder
O conveyed remainder of life estate to one person and person alive (ascertainable)
vested remainder subject to partial divestment
O conveyed remainder of life estate to a class and one member alive (ascertainable)
class closes if mother dies before life estate, becomes indefeasibly vested remainder
vested remainder subject to total
comma stops packaging of language
“to A for life, then…” = To A for life!”
“…, then to B, but if” == “then to B!
“…, then to B but if… == no stop
Vested Remainder Subject to Divestment
“To A for life, then to B, but if B dies before A, then to C.”
1. apply comma rule =
(i) To A for life!
(ii) …To B! (subject to divestment by condition subsequent)
- is future interest in fee simple? No = contingent interest
- is future interest ascertainable and not subjected to condition precedent? Yes = vested remainder
(future) thus is vested remainder (fee simple) subject to divestment
Contingent Remainder
“To A for life,
Destructibility of Contingent Remainders
O grants “To A for life, then to B if he has reached 18.” (at the time of A’s death
Because A may die before B is 18, A gets life estate, B gets nothing and O retains his reversion under the rule of destructibility.
Modern, law is patient and waits to see when A dies, thus A gets a life estate and B has a contingent remainder.
If A dies before B 18, O holds a fee simple subject to executory interest, namely B’s springing executory interest.
Rule in Shelly’s Case - Rule of Law beats O’s intent
O conveys “To A for life, then to A’s heirs.”
Normally, A has life estate and A’s heirs have a contingent remainder because they are unascertainable and O has a reversion because A could die without heirs.
Result: A should decide what his heirs will inherit, not O, thus the life estate and remainder merge into fee simple absolute in A.
Doctrine of Worthier Title
- Rule of Construction, O’s intent governs
O conveys, “to A for life, then to O’s heirs
Normally, A has life estate O’s heirs have contingent remainder because unascertainable until O’s death.
Result: Because it makes it easier to transfer property, O’s heirs get nothing and O has a reversion.
