W6

Question 1

what is transfer by deed

Answer 1

transfer of real property between living people

Question 2

what is a conveyance or grant

Answer 2

term for the transfer of real property by a living person by deed

Question 3

what is a grantor

Answer 3

person who makes a transfer of real property by deed

Question 4

what is a grantee

Answer 4

recipient of a transfer of real property by deed

Question 5

what is ‘alienable’

Answer 5

whether an estate may be transferred by deed

Question 6

what is transfer by will

Answer 6

transfer of real property through the will of a deceased person

Question 7

what is a devise

Answer 7

completed transfer of real property by will

Question 8

what is a testator/testatrix

Answer 8

person whose will contains a devise

Question 9

what is a devisee

Answer 9

person who receives transfer of real property by will.
NOTE THAT THE RECIPIENT OF REAL PROPERTY BY WILL IS NOT CALLED AN HEIR, BUT RATHER IS A DEVISEE

Question 10

what is devisable

Answer 10

whether an estate may be transferred by will

Question 11

what is transfer by interstate succession

Answer 11

transfer of real property of a deceased person who has no will by operation of law.

Question 12

what is a descend

Answer 12

transfer of real property by intestate succession

Question 13

what is an heir

Answer 13

recipient of property by intestate succession

Question 14

what is descendible

Answer 14

whether an estate may be transferred by intestate succession

Question 15

what is waste

Answer 15

cause of action for making alterations to the property subject to an estate.
in modern law, most jxs only permit claims for waste that diminish the property’s value.

Question 16

an estate or future interest is usually transferred in one of three ways:

Answer 16

1. transfer by deed
2. transfer by will
3. transfer by intestate succession

Question 17

the completed transfer of a deed is called a

Answer 17

conveyance or grant

Question 18

the person who makes the transfer by deed is the

Answer 18

grantor while the recipient is the grantee

Question 19

the completed transfer of real property via will is called a

Answer 19

devise

Question 20

the person whose will contains the devise is the

Answer 20

testator if male or testatrix if female while the recipient is the devisee

Question 21

if a person dies without a will, her property will be distributed according to state statutes, usually to her closest living relatives. the completed transfer is called

Answer 21

intestate succesion

Question 22

6 basic freehold estates

Answer 22

fee simple absolute
life estate
fee tail
fee simple determinable
fee simple subject to a condition subsequent
fee simple subject to an executory limitation

Question 23

the fee simple is freely…. (3)

Answer 23

alienable
it can be sold or given
devisable
it can be transferred by will at death
descendible
it can pass by the laws of intestate succession if the owner dies without a will

Question 24

fee simple is formed with the words

Answer 24

“to grantee” or “to grantee and his heirs” or “to grantee in fee simple”

Question 25

fee simple determinable is formed with words of duration such as...

Answer 25

so long as, while, until, and during.

Question 26

all 3 fee simple estates are defeasible meaning

Answer 26

the estate terminates once the stated duration ends

Question 27

fee simple absolute words to look out for

Answer 27

to grantee, to grantee and his heirs, to grantee in fee simple

Question 28

fee simple determinable words to look out for

Answer 28

such as, so long as, while, until, during

Question 29

fee simple subject to an executory limitation words to look out for

Answer 29

so long as, while, during, until, provided that, but if, or on condition that, BUT will also include an identification of the third party who holds the reverter if the condition is realized.

Question 30

fee simple determinable reverter

Answer 30

when the duration condition is realized, the estate automatically reverts to the grantee or his heirs or devisees

Question 31

fee simple subject to a condition subsequent reverter

Answer 31

reversion is NOT automatic, but rather the estate may be terminated at the election of the grantor

Question 32

fee simple subject to an executory limitation reverter

Answer 32

contains who holds the reverter if the condition is realized in the conveyance.

Question 33

three estates that are not defeasible

Answer 33

life estate, term of years, fee tail

Question 34

how is the duration of a life estate measured

Answer 34

by the life of a particular person

Question 35

what happens when the life tenant dies? (life estate)

Answer 35

reverter kicks in (reversion interest is held by the grantor) OR remainder kicks in (remainder is held by a third party)

Question 36

what is a term of years estate

Answer 36

an estate granted for a fixed time.

Question 37

how long does a fee tail exist

Answer 37

fee tails exist for as long as there are lineal descendants

Question 38

what words of conveyance are used in a fee tail

Answer 38

the heirs of his body

Question 39

what happens when there are no more lineal descendants

Answer 39

the estate reverts to a fee simple in whomever holds the reversion interest from the original grantor.

Question 40

what is a future interest

Answer 40

an existing, nonpossessory property right that may become possessory in the future

Question 41

what future interests are retained by the transferor (3)

Answer 41

reversion, possibility of reverter, right of entry