ELFI Ch 5.txt

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dschnelldavis
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39291
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ELFI Ch 5.txt
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2010-10-03 12:54:25
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Law Property
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Estates in Land and Future Interests, Chapter 5
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  1. 5.1: If the future interest following a life estate is in the grantee, what is it called?
    Remainder
  2. 5.2: If the future interest following a term of years is in the grantee, what is it called?
    Remainder
  3. 5.3: If the future interest following a fee tail is in the grantee, what is it called?
    Remainder
  4. 5.4: What is the name of the grantee's future interest that "waits patiently" for the prior estate to "end naturally"?
    Remainder
  5. 5.5: How can you recognize a contingent remainder?
    Its holder is unascertained or it contains a condition precedent or both.
  6. 5.6: What two characteristics define a vested remainder?
    Its holder is ascertained and it has no condition precedent.
  7. 5.7: What two characteristics define an ascertained person?
    The person is born and identified.
  8. 5.8: What is a condition precedent?
    • A condition that
    • (a) is set out within the description of a particular estate and
    • (b) must be satisfied before that estate can become possessory.
  9. 5.9: What are "alternative contingent remainders"?
    Contingent remainders are "alternative" when they each follow the same estate and when their conditions precedent are the opposite of each other, so that the vesting of one precludes the vesting of the other.
  10. 5.10: Is a reversion deemed vested or contingent?
    Vested
  11. 5.11: Is a right of entry deemed vested or contingent?
    Vested
  12. 5.12: Is a possibility of reverter deemed vested or contingent?
    • Vested
  13. 5.13: To whom does a reversion belong?
    The grantor
  14. 5.14: To whom does a remainder belong?
    The grantee
  15. 5.15: Distinguish between a remainder and a reversion.
    • A remainder is a future interest created when a grantor conveys an inherently limited possessory estate and, in the same conveyance, conveys the future interest to a second grantee.
    • A reversion is a future interest created when a grantor conveys an inherently limited possessory estate and retains the future interest.
  16. 5.16: In column 2 on the chart, how do we decide whether to work above the line or below the line?
    Look to see if the next estate is held by the grantor or a grantee. If it is held by the grantor, work above the line. If it is held by a grantee, work below the line.
  17. 5.17: In column 3 on the chart, how do we decide whether to work above the line or below the line?
    • (a) By deciding whether to work above or below the line in column 2 and then following the arrow or
    • (b) by observing whether the interest column 3 describes is in a grantor or in a grantee. If it is in the grantor, work above the line; if it is in a grantee, work below the line.
  18. 5.18: O to A for life, then to B.
    Identify the remainder, and state whether the holder is ascertained.
    • Remainder: then to B
    • Yes, the holder is ascertained.
  19. 5.19: O to A for life, then to A's first child.
    A has one child, B.
    Identify the remainder, and state whether the holder is ascertained.
    • Remainder: then to A's first child
    • Yes, the holder is ascertained.
  20. 5.20: O to A for life, then to A's heirs.
    A is alive and has one child, B.
    Identify the remainder, and state whether the holder is ascertained.
    • Remainder: then to A's heirs
    • No, the holder is not ascertained.
  21. 5.21: O to A for life, then to B and her heirs.
    B has no children.
    Identify the remainder, and state whether the holder is ascertained.
    • Remainder: then to B and her heirs
    • Yes, the holder is ascertained.
  22. 5.22: O to A for life, then to A's widow.
    Identify the remainder, and state whether the holder is ascertained.
    • Remainder: then to A's widow
    • No, the holder is not ascertained.
  23. 5.23: O to A for life, then to A's first child.
    A has no children.
    Identify the remainder, and state whether the holder is ascertained
    • Remainder: then to A's first child.
    • No, the holder is not ascertained.
  24. 5.24: O to A for life, then to this year's first-year law students at State University Law School who pass the bar.
    Identify the remainder, and state whether the holder is ascertained.
    • Remainder: then to this year's first-year law students at State University Law School who pass the bar
    • No, the holder is not ascertained.
  25. 5.25: O to A for life, then to B if B has refrained from drinking alcoholic beverages for the five years prior to A's death.
    1. Draw vertical lines marking the beginning and the end of the description of the remainder.
    2. Identify the remainder.
    3. Is the remainder is subject to a condition precedent?
    (Remember to look for the condition only within the description of the remainder itself, that is, between the two lines you have drawn.)
    • O to A for life, | then to B if B has refrained from drinking alcoholic beverages for the 5 years prior to A's death. |
    • Remainder: then to B if B has refrained from drinking alcoholic beverages for the 5 years prior to A's death
    • Yes, the holder is ascertained.
  26. 5.26: O to A for life, then to B if B has reached 21.
    At the time of the conveyance, B is 22.
    1. Draw vertical lines marking the beginning and the end of the description of the remainder.
    2. Identify the remainder.
    3. Is the remainder is subject to a condition precedent?
    (Remember to look for the condition only within the description of the remainder itself, that is, between the two lines you have drawn.)
    • O to A for life, | then to B if B has reached 21. |
    • Remainder: then to B if B has reached 21
    • No, the holder is not ascertained.
  27. 5.27: O to A for life, then to B; however, if B ever drills for oil on the land, then to C.
    1. Draw vertical lines marking the beginning and the end of the description of the remainder.
    2. Identify the remainder.
    3. Is the remainder is subject to a condition precedent?
    (Remember to look for the condition only within the description of the remainder itself, that is, between the two lines you have drawn.)
    • O to A for life, | then to B; | however, if B ever drills for oil on the land, then to C.
    • Remainder: then to B
    • No, the holder is not ascertained.
  28. 5.28: O to A for life, then to B, on condition that B has passed the bar.
    1. Draw vertical lines marking the beginning and the end of the description of the remainder.
    2. Identify the remainder.
    3. Is the remainder is subject to a condition precedent?
    (Remember to look for the condition only within the description of the remainder itself, that is, between the two lines you have drawn.)
    • O to A for life, | then to B, | on condition that B has passed the bar.
    • Remainder: then to B
    • No, the holder is not ascertained.
  29. 5.29: O to A for life, then to B, on condition that B has passed the bar.
    B has been practicing law for 10 years.
    Draw vertical lines marking the beginning and the end of the description of the remainder.
    1. Draw vertical lines marking the beginning and the end of the description of the remainder.
    2. Identify the remainder.
    3. Is the remainder is subject to a condition precedent?
    (Remember to look for the condition only within the description of the remainder itself, that is, between the two lines you have drawn.)
    • O to A for life, | then to B, | on condition that B has passed the bar.
    • Remainder: then to B
    • Vested
  30. 5.30: O to A for life, then to B, but if B uses the land for an insurance agency, then back to O.
    Draw vertical lines marking the beginning and the end of the description of the remainder.
    1. Draw vertical lines marking the beginning and the end of the description of the remainder.
    2. Identify the remainder.
    3. Is the remainder is subject to a condition precedent?
    (Remember to look for the condition only within the description of the remainder itself, that is, between the two lines you have drawn.)
    • O to A for life, | then to B, | but if B uses the land for an insurance agency, then back to O.
    • Remainder: then to B
    • Vested
  31. 5.31: O to A for life, then to B if B does not then own an insurance agency.
    Draw vertical lines marking the beginning and the end of the description of the remainder.
    1. Draw vertical lines marking the beginning and the end of the description of the remainder.
    2. Identify the remainder.
    3. Is the remainder is subject to a condition precedent?
    (Remember to look for the condition only within the description of the remainder itself, that is, between the two lines you have drawn.)
    • O to A for life, | then to B if B does not then own an insurance agency. |
    • Remainder: then to B if B does not then own an insurance agency
    • Contingent
  32. 5.32: O to A for life, then to B if B is then married.
    Draw vertical lines marking the beginning and the end of the description of the remainder.
    1. Draw vertical lines marking the beginning and the end of the description of the remainder.
    2. Identify the remainder.
    3. Is the remainder is subject to a condition precedent?
    (Remember to look for the condition only within the description of the remainder itself, that is, between the two lines you have drawn.)
    • O to A for life, | then to B if B is then married. |
    • Remainder: then to B if B is then married
    • Contingent
  33. 5.33: O to A for life, then to B; however, if B divorces after A dies, then to O.
    Draw vertical lines marking the beginning and the end of the description of the remainder.
    1. Draw vertical lines marking the beginning and the end of the description of the remainder.
    2. Identify the remainder.
    3. Is the remainder is subject to a condition precedent?
    (Remember to look for the condition only within the description of the remainder itself, that is, between the two lines you have drawn.)
    • O to A for life, | then to B; | however, if B divorces after A dies, then to O.
    • Remainder: then to B
    • Vested
  34. 5.34: O to A for life, then to A's surviving cousins.
    A has two cousins.
    Draw vertical lines marking the beginning and the end of the description of the remainder.
    1. Draw vertical lines marking the beginning and the end of the description of the remainder.
    2. Identify the remainder.
    3. Is the remainder is subject to a condition precedent?
    (Remember to look for the condition only within the description of the remainder itself, that is, between the two lines you have drawn.)
    • O to A for life, | then to A's surviving cousins. |
    • Remainder: then to A's surviving cousins
    • Contingent
  35. 5.35: O to A for life, then to A's children.
    A has one child.
    Draw vertical lines marking the beginning and the end of the description of the remainder.
    1. Draw vertical lines marking the beginning and the end of the description of the remainder.
    2. Identify the remainder.
    3. Is the remainder is subject to a condition precedent?
    (Remember to look for the condition only within the description of the remainder itself, that is, between the two lines you have drawn.)
    • O to A for life, | then to A's children. |
    • Remainder: then to A's children
    • Vested
  36. 5.36: O to A for life, then to the 2001 graduates of O's law school class.
    The conveyance was made in 2002.
    Draw vertical lines marking the beginning and the end of the description of the remainder.
    1. Draw vertical lines marking the beginning and the end of the description of the remainder.
    2. Identify the remainder.
    3. Is the remainder is subject to a condition precedent?
    (Remember to look for the condition only within the description of the remainder itself, that is, between the two lines you have drawn.)
    • O to A for life, | then to the 2001 graduates of O's law school. |
    • Remainder: then to the 2001 graduates of O's law school
    • Vested
  37. 5.37: O to A for life, then to A's widow.
    Draw vertical lines marking the beginning and the end of the description of the remainder.
    1. Draw vertical lines marking the beginning and the end of the description of the remainder.
    2. Identify the remainder.
    3. Is the remainder is subject to a condition precedent?
    (Remember to look for the condition only within the description of the remainder itself, that is, between the two lines you have drawn.)
    • O to A for life, | then to A's widow.
    • Remainder: then to A's widow
    • Contingent
  38. 5.38: O to A for life, then to B's heirs.
    B is alive.
    Do A's heirs have any property interest as a result of either of the following conveyances? If so, what is it?
    Draw vertical lines marking the beginning and the end of the description of the remainder.
    1. Draw vertical lines marking the beginning and the end of the description of the remainder.
    2. Identify the remainder.
    3. Is the remainder is subject to a condition precedent?
    (Remember to look for the condition only within the description of the remainder itself, that is, between the two lines you have drawn.)
    • O to A for life, | then to B's heirs. |
    • Remainder: then to B's heirs
    • Contingent
  39. 5.39: O to A for life, then to A's heirs.
    Draw vertical lines marking the beginning and the end of the description of the remainder.
    1. Draw vertical lines marking the beginning and the end of the description of the remainder.
    2. Identify the remainder.
    3. Is the remainder is subject to a condition precedent?
    (Remember to look for the condition only within the description of the remainder itself, that is, between the two lines you have drawn.)
    • O to A for life, | then to A's heirs. |
    • Remainder: then to A's heirs
    • A's heirs have a contingent remainder.
  40. 5.40: O to A and her heirs.
    Draw vertical lines marking the beginning and the end of the description of the remainder.
    1. Draw vertical lines marking the beginning and the end of the description of the remainder.
    2. Identify the remainder.
    3. Is the remainder is subject to a condition precedent?
    (Remember to look for the condition only within the description of the remainder itself, that is, between the two lines you have drawn.)
    • O to A and her heirs. |
    • Remainder: none
    • A's heirs have nothing.
    • ("And her heirs" simply identifies the nature of A's estate: a fee simple.)
  41. 5.41: O to A for life, then to B.
    What is the state of the title?
    • A has a possessory estate in life estate.
    • B has a vested remainder in fee simple absolute.
  42. 5.42: O to A for life, then to O.
    What is the state of the title?
    • A has a possessory estate in life estate.
    • O has a reversion in fee simple absolute.
  43. 5.43: O to A and her heirs until B reaches 25.
    B is 12.
    What is the state of the title?
    • A has a possessory estate in fee simple determinable.
    • O has a possibility of reverter in fee simple absolute.
  44. 5.44: O to A and her heirs, but if A divorces, then to O.
    What is the state of the title?
    • A has a possessory estate in fee simple subject to a condition subsequent.
    • O has a right of entry in fee simple absolute.
  45. 5.45: O to A and her heirs so long as A never uses illegal drugs.
    What is the state of the title?
    • A has a possessory estate in fee simple determinable.
    • O has a possibility of reverter in fee simple absolute.
  46. 5.46: O to A and her heirs, but if B reaches 25, then to O.
    B is 15.
    What is the state of the title?
    • A has a possessory estate in fee simple subject to a condition subsequent.
    • O has a right of entry in fee simple absolute.
  47. 5.47: O to A for life, but if an interstate highway is built within one mile of the property, then to O.
    What is the state of the title?
    • A has a possessory estate in life estate subject to a condition subsequent.
    • O has a reversion in fee simple absolute.
    • [O actually has two interests: a reversion (because A's estate is a life estate) and a right of entry (because the life estate is also subject to a condition subsequent). We call O's interest the larger of these two: a reversion.]
  48. 5.48: O to A for life or until A divorces, then to O.
    What is the state of the title?
    • A has a possessory estate in life estate determinable.
    • O has a reversion in fee simple absolute.
    • [O actually has two interests: a reversion (because A's estate is a life estate) and a possibility of reverter (because the life estate is also determinable). We call O's interest the larger of these two: a reversion.]
  49. 5.49: Conveyance 1: "O to A for life, then to B, but if B has not graduated from college, then to C."
    Conveyance 2: "O to A for life, then to B if B has graduated from college, but if not, then to C."
    In which is B's remainder vested and in which is it contingent?
    • Vested - Contingent
    • O to A for life, then to B, but if B has not graduated from college, then to C. (Vested)
    • O to A for life, then to B if B has graduated from college, but if not, then to C. (Contingent)
  50. 5.50: O to A for life, then to B, on condition that B has passed the bar.
    Has O retained an interest?
    Yes
  51. 5.51: O to A for life, then to B.
    Has O retained an interest?
    No
  52. 5.52: O to A for life, then to B if B does not then own an insurance agency.
    Has O retained an interest?
    Yes
  53. 5.53: O to A for life, then to B if B has married.
    B is presently married.
    Has O retained an interest?
    No
  54. 5.54: O to A for life, then to B; however, if B divorces, B's estate ends.
    Has O retained an interest?
    Yes
  55. 5.55: O to A for life, then to A's surviving cousins.
    A has two cousins.
    Has O retained an interest?
    Yes
  56. 5.56: O to A for 10 years, then to B for 10 years.
    Has O retained an interest?
    Yes
  57. 5.57: O to A and the heirs of her body, then to B.
    Has O retained an interest?
    No
  58. 5.58: O to A for life, then to B's oldest child who survives B.
    Then B dies with two children living.
    Afterward, is the remainder is vested or contingent?
    Vested
  59. 5.59: O to A for life, then to A's oldest surviving child who has attained the age of 21.
    Then A's oldest child attains the age of 21.
    Afterward, is the remainder is vested or contingent?
    • Contingent
    • (A condition precedent remains: The child must survive A.)
  60. 5.60: O to A for life, then to B if B marries.
    Then B gets married. Subsequently, B divorces.
    Afterward, is the remainder is vested or contingent?
    • Vested
    • (The condition precedent was satisfied when B married.)
  61. 5.61: O to A for life, then if B has died childless, to whoever is the Dean of State University Law School at the time of A's death.
    Then B dies childless.
    Afterward, is the remainder is vested or contingent?
    Contingent

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