Exam (elaborations)
BAR EXAM PRESENT ESTATES AND FUTURE INTERESTS
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BAR EXAM PRESENT ESTATES AND FUTURE INTERESTS
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BAR EXAM PRESENT ESTATES AND FUTUREINTERESTS
Present possessory estate - Answers -an interest that gives the holder the right to
present possession
3 categories of present possessory freehold estates - Answers -1. fee simple absolute
2. defeasible fee
3. ife estate
3 qs to remember for estates - Answers -1. what language creates the estate?
2. what are the estate's distinguishing characteristics?
3. which future interests, if any, is the estate capable of?
Fee simple absolute - Answers -absolute ownership of indefinite or potentially infinite
duration
Statements of purpose or motive re: determinable fees - Answers -They do NOT create
determinable fees
Fee simple determinable creation - Answers -Durational language!
"to A for so long as..."
"to A while..."
"to A during..."
"to A until..."
Distinguishing characteristics of fee simple determinable - Answers -Transferable,
devisable by will, and descendible through intestacy BUT always subject to the attached
conditions
If a fee simple determinable is conveyed to another, - Answers -the grantee takes
subject to the estate's being terminated by the specified event
Accompanying future interest for fee simple determinable? - Answers -Possibility of
reverter
Possibility of reverter - Answers -Reversionary future interest in the grantor when the
estate automatically reverts back to the grantor upon the happening of the stated event
Whenever a grantor conveys a fee simple determinable, they automatically - Answers -
retain a possibility of reverter which is transferable, devisable by will, and descendible
by intestacy
Way to remember fee simple determinable and possibility of reverter - Answers -Frank
Sinatra
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