_____ person, and not subject to any _____
1. Indefeasibly vested
2. Vested subject to defeasance
3. Vested remainder subject to "open" (class gift)
ASCERTAINED person, and
not subject to any CONDITION PRECEDENT (CP)
1. INDEFEASIBLY VESTED
(e.g., "to A for life, remainder to B")
2. VESTED SUBJECT TO COMPLETE DEFEASANCE
3. VESTED REMAINDER SUBJECT TO "OPEN"
- a. Condition subsequent (CS) cuts-short grantee's right of possession
- b. e.g., "to A for life, then remainder to B, provided that if B dies under the age of 25, then to C"
- a. Rule of Administrative Convenience: class closes when any member can demand possession
- b. Children in gestation count