Estates in Land

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Author:
taskd6
ID:
158687
Filename:
Estates in Land
Updated:
2012-06-13 21:43:24
Tags:
Possessory Interests Real Property
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Description:
Property Law Section One
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  1. What is the difference between a freehold estate and a non-freehold estate?
    Freehold estate: Owner of the estate has title to or a right to hold the property

    Non-freehold estate: Mere possessory interest
  2. Types of Freehold Estates
    • Fee Simple Absolute
    • Defeasible Estates
    • Life Estate
  3. Fee Simple Absolute
    Aggregate of all possible rights that a person may have in a parcel of land, including:

    • - An unimpeded right to sell/convey all or part of the property
    • - An unimpeded right to devise the property
  4. Words of purchase
    Describes persons ("purchasers") taking interest under a grant or device
  5. Words of limitation
    Describes the nature of the estate taken by purchasers
  6. Definition of Defeasible Estates
    An estate that may terminate before the maximum duration has run
  7. Types of Defeasible Estates
    • Fee Simple Determinable
    • Fee Simple Subject to a Condition Subsequent
    • Fee Simple Subject to Executory Interest
    • Fee Tail
  8. Definition of Fee Simple Determinable
    An estate that terminates automatically when a specified future event occurs
  9. What follows a determinable estate?
    Possibility of reverter (may be implied)
  10. Definition of Fee Simple Subject to a Condition Subsequent
    An estate that may be cut short if the estate is retaken by the grantor or a third party when a specified future event occurs
  11. Distinguish determinable from condition subsequent
    • Condition subsequent grants a right to take the estate
    • Determinable automatically terminates an estate
  12. Definition of Fee Simple Subject to an Executory Interest
    An estate that is automatically divested in favor of a third person when a specified future event occurs
  13. Definition of Fee Tail
    A freehold estate that descends to grantee's lineal descendants (children) only

    Early Common Law
  14. What follows a fee tail?
    • Either reversion in grantor; or
    • Remainder in a third party

    Future interst becomes possessory if and when the lineal line fails
  15. What is the modern law majority interpretation of traditional fee tail language ("to A and the heirs of his body")? What is the minority interpretation?
    • Majority: grantee gets a fee simple absolute
    • Minority: grantee gets a life estate, with a remainder per stirpes in the grantee's lineal descendants in being at the time of the life tenant's death
  16. If the language of a grant is unclear, a _______ is preferred over a ________estate because the award is money damages rather than forfeiture
    Covenant; Defeasible
  17. If the language of a grant is unclear, a fee simple ________ is preferred over a fee simple _________ because in the former, forfeiture is not automatic
    Condition subsequent; determinable
  18. What is a life estate pur autre vie?
    A life estate which has a duration measured by a life other than that of the grantee
  19. Who has a duty to repair?
    • Life tenant
    • Tenant for term of years
  20. The scope of a life tenant's duty to repair is as follows:

    A duty to maintain the property in a ________ state of repair, but ordinary _____________ are excepted. The duty is limited to the extent of ________, or if he personally _occupies the premises, to the extent of ___________ of the land.
    • reasonable;
    • wear and tear;
    • income derived;
    • the reasonable rental value of the land
  21. The scope of a tenant for term of years' duty of repair?

    A duty to maintain the property in a ________ state of repair, but ordinary _____________ are excepted. The duty is not limited to the extent of ________, or ____________.
    • reasonable;
    • wear and tear;
    • income derived;
    • reasonable rent value
  22. What duties does a life tenant have?
    • Duty to repair
    • Duty to pay interest ona mortgage to the extent of profits derived from the property
    • Duty to pay all ordinary taxes, to the extent of profits derived from the property

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