Reversion

- O --> BA to A for life.  O keeps a reversion in fee simple absolute.

- Future estate created when O coveys a lesser estate.

- Takes effect at termination of a lesser estate when that estate expires.

- Transferable during life and descendible / devisable at death.  Still called a reversion (because that’s what it was when created.)

O --> BA to A for so long as the premises are used for a juke joint

Created when O conveys a determinable estate of the same quantum (EX: fee simple determinable from fee simple absolute).

Future interest can be transferred inter vivos, and if original estate was devisable/descendible, so is possibility of reverter, and will still be called that.

Right of Entry / Power of Termination

O --> BA to A, but if used for church purposes, O may enter and terminate the estate granted.

Created when O transfers an estate with a condition subsequent and reserves the power to terminate upon occurrence of that condition.

Transferred estate does not expire automatically.

Inheritable, devisable, transferrable in most states.

O --> BA to A [and his heirs].

Estate in fee simple that is free of special limitation, condition subsequent, or executory limitation.

“And his heirs” language has no effect – still alienable.

Fee Simple Defeasible 

O --> BA to A so long as used for church purposes.

Possession is potentially infinite, but may come to an end before line of heirs runs out.

Transfer of fee simple followed by condition subsequent, special limitation, or executory limitation.

O --> BA to A and the heirs of his body.

Tail could be limited to male / female / special / general.

Continues as long as there is an heir to take, but O keeps a future estate in fee simple absolute, assuming that A’s heirs will run out eventually.

After Taltarum’s Case, could disentail by “common recovery.” Now, by deed.

O --> BA to A for life.

A has a present estate until his death.

O owns his estate in fee simple absolute, with a reversion when A dies.

Pur autre vie: If possessory interest is transferred to B, still ends w/A’s death (A = measuring life / cestui que vie).

Freehold estate – A has seisin.

O --> BA to A for five years.

Estate whose duration is absolutely computable from the moment it becomes present.

Interest in land, not real property. Occupant is not seised. May be considered to be "in possession" for purpose of finder's law.

Create a fee simple subject to condition subsequent

- Provided that...

-       But if...

-       On the condition that...

-       Provided..., however...

- If..., however...

Creates a fee simple determinable.

-       So long as...

-       During...

-       While...

- Unless...

- Until...

Fee Simple Determinable

O --> BA to A while he uses it for school purposes.

Created by a transfer using words of special limitation after a fee simple.

If special condition fulfilled, estate will automatically expire and revert to O / O’s successors in interest.

O --> BA to A, but if used for church purposes, O may enter and terminate the estate granted.

Estate does not terminate until O cuts it short by using right of entry.

Fee Simple Subject to Executory Limitation

O --> BA to A, but if A marries, to C and his heirs.

Fee simple that is cut off by a third party’s interest after a condition subsequent.

Tenancy in Common

O --> BA to A and B.

Modern presumption unless specified otherwise.

A and B each own an undivided half of BA in his or her own name.

Can divide land by voluntary partition or force it by judicial partition.

Can be passed by will or descent or alienated during life.

O --> BA to A and B as joint tenants, with right of survivorship.

A and B both own the undivided whole.

Cannot pass by will or descent.  Survivor becomes sole owner.

Can be severed by unilateral inter vivos transfer or agreement, which creates a tenancy in common between remaining joint tenant(s) and transferee. 

O --> BA to husband A and wife B.

Not recognized in all states, but can only exist between husband and wife.

May not be destroyed unilaterally – A and B must agree before conveying any interest to a third party.

Can convert to a tenancy in common or joint tenancy by agreement.

Survivor absorbs other’s ownership.

O --> BA to A for life, then to B and his heirs.

Future interest created in someone other than the transferor that, according to the terms of its creation, will:

- become a present estate immediately upon (no sooner than, no later than)

- expiration of all prior estates created simultaneously with it (does not cut short)

May be devised, passed, transferred.

May NEVER follow any estate in fee simple.

Vested Remainder

Two requirements:

- No condition precedent to the interest becoming a present estate, other than natural expiration of prior estates.

- Theoretically possible to identify who will take if it becomes possessory at any time.

- Cannot be destroyed, is not subject to the Rule Against Perpetuities.

A future interest owned by a class that is subject to increase at the time of transfer.

- O --> BA to A for life, then to the children of B.  If B has two living children at the time the transfer is made, they have vested remainders.  However, B can have more children before A dies.