Shared Flashcard Set

Details

Property: Possessory Estates in General
General Overview of Possessory Estates (Krier)
16
Law
Graduate
11/11/2009

Additional Law Flashcards

 


 

Cards

Term
What differentiates different kinds of estates?
Definition
The length of time that they endure.
Term
Historically, what was the system that the estate system came from called?
Definition
The feudal system.
Term
What was one of the main weaknesses of the feudal system?
Definition

Services (aka rent) were fixed at a certain cost, but land usually increased in value.  Because of this, landlords felt cheated because the tenant was the only one reaping the benefit of increased value.

 

Thus, the feudal system encouraged landlords to hope that tenants died w/o heirs or to breach their obligations.

Term
Statute Quia Emportes
Definition

Signaled the end of feudalism.

 

This statute prohibited further subdividing of lands and services.  In return, lords gave tenants the right to alienate their land w/o the lord's consent.

Term
An estate is...
Definition
...an interest in land that is or may become possessory and is measured in time.
Term
The Types of Estates
Definition
  1. Fee Simple
  2. Fee Tail
  3. Life Estate
  4. Leasehold Estate

NOTE: These are the only kinds of present possessory estates.

Term
Fee Simple
Definition

A type of present possessory estate.

 

A fee simple is an estate that could potentially endure forever.

 

Language:

"to A and his heirs"

Term
Fee Tail
Definition

A type of present possessory estate.

 

An estate that has the potential of enduring forever, BUT will necessarily cease if and when the first fee tail tenant has no lineal descendant heirs.

 

Language:

"to A and the heirs of his body"

Term
Life Estate
Definition

A type of present possessory estate.

 

An estate that will end necessarily at the death of a person.

 

Language:

"to A for life"

Term
Leasehold Estate
Definition

A type of present possessory estate.

 

Includes estates that endure:

  1. for any fixed calendar period (term of years).
  2. for a period to period until landlord or tenant gives notice of termination (periodic tenancy).
  3. for as long as both landlord and tenant desire (tenancy at will).
Term
Freehold Estate
Definition

The highest form of holding under feudal tenure.

 

A holder here would have seisin.

Term
Types of Freehold Estates
Definition
  1. Fee Simple
  2. Fee Tail
  3. Life Estate
Term
Types of Nonfreehold Estates
Definition
  1. Leasehold (landlord/tenant)
Term
Nonfreehold Estate
Definition
An estate where the possessor only has possession but does not have seisin.
Term
Seisin
Definition

A person with this would be responsible for the feudal services required of a particular property.  Feudal incidents would be required upon this person's death because of it.

 

In the feudal days, this thing could not be gotten rid of as someone must always have it.

Term
Hierarchy of Estates
Definition

Estates are ranked according to their potential durations.  In order:

  1. Fee Simple
  2. Fee Tail
  3. Life Estate
  4. Leasehold
Supporting users have an ad free experience!