The flashcards below were created by user
Anonymous
on FreezingBlue Flashcards.
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Fee Simple Absolute Language to Create
To A and his heirs, or to A
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Fee Simple Absolute Duration
Absolute ownership of potentially infinite duration
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Fee Simple Absolute Transferability
Divisible, Descendible, alienable
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Fee Simple Absolute Future Interest
None - cannot be a remainder
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Fee Tail Language to Create
To A and the heirs of his body
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Fee Tail Duration
Lasts only as long as there are lineal blood descendants of grantee
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Fee Tail Transferability
Passes automatically to the grantee’s lineal descendants
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Fee Tail Future Interest
Reversion if held by the grantor, Remainder if held by third party
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Defeasible Fees Language to Create
To A so long as…
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Defeasible Fees Duration
Potentially infinite, so long as the event does not occur
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Defeasible Fees Transferability
Alienable, devisable, descendible, subject to condition
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Defeasible Fees Future Interest
Possibility of reverter (held by grantor)
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Fee Simple Determinable Language to Create
To A until…, to A while…
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Fee simple determinable Duration
Potentially infinite, so long as the event does not occur
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Fee Simple Determinable Transferability
Alienable, devisable, descendible, subject to condition
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Fee Simple Determinable Future Interest
Possibility of reverter (held by grantor)
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Fee Simple to Condition Subsequent Language to Create
To A. But if X event happens, grantor reserves the right to reenter and retake (Grantor must carve out right to reenter)
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Fee simple Condition Subsequent Duration
Potentially infinite, so long as the condition is not breached and thereafter, until the holder of the right of entry timely exercises the power of termination.
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Fee Simple Condition Subsequent Transferability
Alienable, devisable, descendible, subject to condition
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Fee Simple Condition Subsequent Future Interest
Right of reentry/power of termination (held by grantor)
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Fee simple subject to an executor limitation Language to Create
To A, but if X event occurs, then to B
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Fee simple subject to an executor limitation Duration
Potentially infinite, so long as stated contingency does not occur
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Fee simple subject to an executor limitation Transferability
Alienable, devisable, descendible, subject to condition
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Fee simple subject to an executor limitation Future Interest
Executory Interest (held by third party)
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Life Estate Language to Create
To A for life. To A for the life of B.
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Life estate Duration
Measured by life or transferee or by some other life. (pur autre vie)
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Life estate Transferability
Alienable, devisable, and descendible if pur autre vie and measuring life is still alive
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Life Estate Future Interest
Reversion (if Held by Grantor), Remainder (If held by third party)
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Reversion
Property automatically reverts back to the grantor
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Remainder
a future interest given to a person (who is referred to as the transferee or remainderman) that is capable of becoming possessory upon the natural end of a prior estate created by the same instrument. Thus, the prior estate must be one that is capable of ending naturally,
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