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property
estates
21
Law
Graduate
02/17/2009

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Term
heir
Definition
someone who receives real property from someone who died intestate (usually a spouse or child, maybe other relative if no spouse or children)
Term
devise
Definition
leave real property to someone (the devisee) in a will; a will does not create any property interest in the devisee until the testator dies
Term
bequeath
Definition
to pass personal property (the bequest) in a will
Term
issue
Definition
a person's lineal descendants all the way down the line
Term
collaterals
Definition
a person's blood relatives not directly in the line (siblings, cousins, aunts and uncles, etc)
Term
escheat
Definition
if a decedent has no heirs or devisees, the interest in the property escheats to the state
Term
convey
Definition
to transfer property (the conveyance) to another through sale or gift
Term
possessory estate
Definition
the owner of the right to possess the land now, in the present
Term
future interest
Definition
the owner of the right to possess the land in the future owns a future interest in the land
Term
fee simple
Definition
has no inherent ending; the owner of a fee simple can keep the land forever, can sell it or give it to someone else who can keep it forever, or can devise it to someone who can keep it forever
– O to A and his heirs

Words of limitation: "and the heirs of his/her body"
Term
words of purchase
Definition
tell you who is receiving the interest (who the grantee is)
Term
words of limitation
Definition
tell you what kind of estate the grantee is receiving
– Do not convey any interest, just identify the type of estate
§ "and his heirs" doesn't give any interest to the heirs

If no words of limitation, the presumption is that the grantor meant to convey all that she could
Term
fee tail
Definition
if O conveys an estate to A, A possesses the land right now, but cannot sell or give or devise the right to possession after A's death
– After A dies, the land passes automatically to A's issue (not the same as inheritance because it can override a will)
– Fee tail ends when last lineal descendent dies (can't sell, give away or devise)

Words of limitation: "and the heirs of his/her body"
Term
life estate
Definition
owner (life tenant) of a life estate only has the right to possess the property in his/her lifetime
– Can't sell, gift or devise; simply ends upon the death of the holder (or whoever's life it is measured by)
– Words of limitation: "for life"
Term
term of years
Definition
a lease; not a freehold estate like the other three; occurs when the owner of a freehold estate promises to let someone else use the land for a set period of time
– Can't sell, gift or devise the right to use the land past the lease period

Words of limitation: "for X years/months/etc"
Term
seisin
Definition
the right to possession of land accompanied by particular responsibilities, such as the payment of taxes
Term
pur autre vie
Definition
for the life of another
– Example: O to A for life, then A to B, but only for A's life (B can still devise or his heirs can still inherit, but only for A's lifetime)
Term
absolute
Definition
the estate has no limitations at all (only applies to fee simple because the other categories have inherent limitations)
No special term for a fee tail, life estate or term of years with no additional limitations
Term
defeasible estate
Definition
a fee that is capable of being defeased (brought to an end) by the occurrence of a particular event (determinable/condition subsequent)
Term
determinable estate
Definition
– Determinable estate: the estate will end automatically upon the happening of the limiting event
§ The limitation is placed within A's estate (uses words of temporal limitation, like until or so long as)/comes before the comma that marks the end of A's estate
§ Limited from the instant of the estate's creation
Term
subject to a condition subsequent
Definition
the estate won't end automatically, the grantor has to take some action to reclaim the property
§ The limitation is placed within O's estate/comes after the punctuation that ends A's estate
§ Gives that estate the right to interrupt A's estate if the designated event happens, but the estate doesn't automatically revert back to O

Uses terms of express condition, words like but if, however, on the condition that, etc
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