Special Problems

Question 1

Rule Against Perpetuities (definition)

Answer 1

No interest is good unless it must vest, if at all, no later than 21 years afrer some life in being at the creation of the interest. must certainly vest w/n 21 years

Question 2

What does RAP apply to?

Answer 2

1. executory interest
2. contingent remainder
3. vest remainder subject to open
4. purchase option
5. right of first refusal

Question 3

Restraints on alienation

Answer 3

1. total

2. partial

Question 4

total restraint

Answer 4

“A to B, but if B ever tries to sell the prop, then prop will revert to A.”
on fee - gen invalid
on less than a fee - upheld if R.

Question 5

partial restraint (types)

Answer 5

1. purchase option

2. right of first refusal

Question 6

Purchase option

Answer 6

“A to B and her heirs, but A reserves the right to buy back the property at any time during A’s life”

Question 7

Right of first refusal

Answer 7

“A to B and her heirs, but if B ever attempts to sell during A’s life, B must first offer the property to A at the same price.”

Question 8

Conflict of law and immovable property

Answer 8

Law of situs (where property is located)

applies to: validity of a conveyance, mortgages, foreclosure, liens