Estates and Future Interests EXAMPLES
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1
To A
A has fee simple absolute
O has nothing
O has nothing
2
To A and the heirs of his body
A has fee tail
O has reversion (if A ceases to have bloodline descendants)
O has reversion (if A ceases to have bloodline descendants)
3
"To A for life"
A has a life Estate
O has a reversion
O has a reversion
4
"To A for life, then to B for 99 years"
A has a life estate
B has a term of years (a leasehold interest)
O has a reversion
B has a term of years (a leasehold interest)
O has a reversion
5
"to A so long as the premises are used as a recording studio"
A has a fee simple determinable (NY: fee on limitation)
O has a possibility of reverter
O has a possibility of reverter
6
"to A, but if coffee is ever consumed on the premises, the grantor reserves the right to reenter and retake"
A has a fee simple subject to condition subsequent (NY: fee on condition)
O has a right of reentry/power of termination (NY: right of reacquisition)
O has a right of reentry/power of termination (NY: right of reacquisition)
7
"to A, but if coffee is ever consumed on the premises, to B"
A has a fee simple subject to an executory limitation (NY: :remainder subject to a condition precedent)
B has a shifting executory interest
B has a shifting executory interest
8
"To A for life, then to B's first child"; A is alive, but B has no children
A has life estate
B has contingent remainder (NY:remainder subject to a condition precedent)
O has reversion
-will revert to O if A dies and B has no living children at that time
B has contingent remainder (NY:remainder subject to a condition precedent)
O has reversion
-will revert to O if A dies and B has no living children at that time
9
"To A for life, then to B's children"; A is alive; B has two children, C and D
A has life estate
C and D have vested remainders subject to open
C and D have vested remainders subject to open
10
"To A for 90 years, then to B's heirs"; A is alive; B is alive and thus has no heirs
A has term of years
B has contingent remainder (NY:remainder subject to a condition precedent"
O has reversion -will revert to O if B dies w/o heirs
B has contingent remainder (NY:remainder subject to a condition precedent"
O has reversion -will revert to O if B dies w/o heirs
11
"To A for life, then to those children of B who survive A"; A is alive and we don't known which, if any, of B's kids survive A
A has life estate
B has contingent remainder (NY:remainder subject to a condition precedent)
O has reversion
-will revert to O if A dies and B has no living children at that time
B has contingent remainder (NY:remainder subject to a condition precedent)
O has reversion
-will revert to O if A dies and B has no living children at that time
12
"To A for life, then, if B graduates from college, to B"
A has life estate
B has contingent remainder (NY:remainder subject to a condition precedent)
-BUT once condition precedent is met, his interested automatically becomes a indefeasibly vested remainder
O has reversion - if B never graduates from college, O or O's heirs take
B has contingent remainder (NY:remainder subject to a condition precedent)
-BUT once condition precedent is met, his interested automatically becomes a indefeasibly vested remainder
O has reversion - if B never graduates from college, O or O's heirs take
13
"To A for life, remainder to B"
A has a life estate
B has an indefeasibly vested remainder
O has nothing
B has an indefeasibly vested remainder
O has nothing
14
"To A for life, remainder to B, provided, however, that if B dies under the age of 25, to C"; A is alive; B is 20 years old
1. condition subsequent = if B dies under the age of 25
2. A has a life estate
3. B has a vested remainder subject to complete defeasance/subject to total divestment
a. If B is under 25 at the time of A's death: B still takes because the age requirement is a condition subsequent
b. However, B must live to 25 for his estate to retain his interest; otherwise, B's heirs lost it all and C or C's heirs stand to take
4. C has a shifting executory interest
5. O has a reversion; possible that neither C nor C's heirs will exist when the condition is breached
2. A has a life estate
3. B has a vested remainder subject to complete defeasance/subject to total divestment
a. If B is under 25 at the time of A's death: B still takes because the age requirement is a condition subsequent
b. However, B must live to 25 for his estate to retain his interest; otherwise, B's heirs lost it all and C or C's heirs stand to take
4. C has a shifting executory interest
5. O has a reversion; possible that neither C nor C's heirs will exist when the condition is breached
15
"To A and her heirs, BUT IF B returns from Canada sometime next year, to B and his heirs"
B has a shifting executory interest
-B does not have a remainder because remainders never follow defeasible fees
A has a fee simple subject to B's shifting executory interest
-B does not have a remainder because remainders never follow defeasible fees
A has a fee simple subject to B's shifting executory interest
16
To A, BUT IF A uses the land for nonresidential purposes at any time during the next 20 years, then to B"
B has a shifting executory interest
-B stands to take as a consequence of A's divestiture
A has a fee simple subject to B's shifting executory interest (NY: subject to a condition precedent)
-B stands to take as a consequence of A's divestiture
A has a fee simple subject to B's shifting executory interest (NY: subject to a condition precedent)
17
"To A, IF AND WHEN he marries"; A is unmarried
A has a springing executory interest
O has a fee simple subject to A's springing executory interest
O has a fee simple subject to A's springing executory interest
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