W2 - Doctrine of Estates Flashcards
(30 cards)
What defines a freehold estate?
uncertain duration estates, no set expiry
What are the differs types od freehold estates?
Fee Simple - ownership of all proeprty interests
Lasts as long as there are heirs who may inherit the estate
Life Estate - owernship for the lifetime of the possessor
Lasts for a holder’s lifetime. Is freehold becasue the date of death is uncertain
Fee Tail - outright ownership, but can only be inherited by direct descendants, cannot be sold
Give an example of a leasehold estate
monthly rental
What kind of estate cannot be inherited?
a life estate
What happens if the grantor of a life estate dies before the holder of a life estate does?
On the death of the holder, the estate will revert back to the executor of the grantor’s will
What does Allodial Ownership mean?
outright ownership/fee simple
What happens if a fee simple estate holder dies?
It passes to their heris
What happens of no one is alive to inherit a property?
The estate will escheat back into the ownership of the State
What is Fee Tail?
shortened type of fee simple
Can only descend to a specific class of relatives as described in its formula
Does Fee tail exist in Ontario?
No
What kind of phrase could create a fee tail estate?
“Oscar grants to Charles and the heirs of his body”
What is a Consecutive Estate? give an example
Proceeds two present interests.
Oscar grants to Anne for life, remainder to Bob and his heirs
What are the kinds of estates that consecutive estates will create?
A life estate for the present holder, and a future fee simple estate for the remainder person
In a consecutive estate, do both parties have an interest in the property?
Yes. The life estate holder only has the right of possession first
What would happen if the holder of a life estate sold the land before they died?
The land would revert to the future fee simple holder at the moment the life estate holder died.
What is primogeniture?
The practise of willing the land so that the eldest male child would inherit the totality of the family estate. If there are no male heirs, then the estate is divided among female heris
Under common law, were spouses heirs to one another?
No. They only held life estates
What rights are conferred through fee simple?
usus, fructose, abusus, aliénation, easement, profit a prendre
What defines usus?
to use and possess the land. Manage and control the land
What defines fructose?
right to profit from the land (leasing, farming)
What defines abusus?
the right to alter the land, even to the point of destruction. Includes cutting trees down and knocking down buildings
What phrase would create a fee simple estate?
“to A and his heirs”
What is the current presumption of estate to be created in a will?
Today, fee simple. Under old common law, life estate
In a life estate, what rights does the grantor have?
either retained a right of reversion or grantor has transferred the reversion to a third party called the remainder person
