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Property Law-Estates
Estates
5
Law
Professional
10/24/2010

Additional Law Flashcards

 


 

Cards

Term
Fee Simple Absolute
Definition

 

Future Estate--None

Language Creating--
to "A and his heirs"
to "A, his heirs and assigns"
to "A"

Duration--Unlimited

Transferability--
Deed
Will
Intestacy

 

Term
Defeasible Fee Estates
Definition

Fee Simple Determinable

 

Fee Simple Subject to  Condition Subsequent

 

Fee Simple Subject to Executory Limitation

 

Fee Simple Conditional (SC)

 

Life Estates

Life Estate per autre vie

 

 

 

Term
Fee Simple Determinable
Definition

Fee Simple that has a condition.  If that condition is breached the property AUTOMATICALLY reverts back to the grantor

 

Future Interest--Possibility of Reverter

 

Language Creating--

"so long as"

"until"

"during the time that"

 

Duration--Potentially infinite as long as the "event" does not occur

 

Transferability--Deed, will, or intestancy

Term
Fee Simple Subject to Condition Subsequent
Definition

A fee simple with a condition that, if breached, the owner has the right to take possession, but does NOT AUTOMATICALLY get it.

If it is unclear if the interest in the grantor is "possibility of reverter" or "right of entry" the court assumes "right of entry."

You can't adversely possess against a right of entry unless the holder has attempted to exert it

There can be a time limit on the right of entry

 

Future interest--Right of Entry

 

Duration--Potentially infinite as long as the event does not occur, and afterward as long as the holder of the right of entry does not exercise the power of termination

 

Transferrabilty--By deed, will, or intestancy

Term
Fee Simple Subject to an Executory Limitation
Definition

A condition on ownership, where if breached, the property goes to a third party rather than the original grantor.

 

Future Interest--Executory Interest

 

Duration--Potentially infinite, so long as the "event" does not occur.

 

Transferability--By deed, will, or intestacy 

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