1What are the different future interests for FSD and FSCS?
- FSD has a Possibility of Reverter b/c for "as long as, while, during, until" and will possibly end and it will be automatic so it's a Possibility of Reverter.
- A FSCS has a Right of Re-Entry b/c if its contingency is broken it's not automatic, so it'll be up to the GR to take notice and exercise their Right/Option.
2Why does a FSD have a Possibility of Reverter?
Because a FSD is for "as long as, while, during, until" and so it may or may never end but it when it does it'll be automatic so it's a Possibility of Reverter.
3Why does a FSCS have a Right of Re-entry?
- A FSCS a Right of Re-Entry b/c if its contingency is broken it's not automatic, so it'll be up to the GR to take notice and exercise their Right/Option.
4Why does Term of Years have a Reversion?
Because it'll eventually end and return to the Grantor.
5Why does a Life Estate have a Reversion?
Because eventually the life estate, whether firsthand or pur autre vie, it'll end.
6What is the three tests for determining if it's contingent or vested?
(1) Specific ascertainable individual at conveyance
(2) No unmet condition
Y: Vested N: Contingent
7What happens if a Condition Subsequent DOES NOT divest an interest?
Indefeasibly Vested Remainder
8What happens if a Condition Subsequent divests an interest?
It needs to determine whether the condition subsequent partially divests or leaves open to more beneficiaries.
Y: Vested Remainder Subject to Open
N: Vested Remainder Subject to Divestment
9What happens if the condition subsequent partially divests or leaves open to more beneficiaries.
Y: Vested Remainder Subject to Open
N: Vested Remainder Subject to Divestment
10What are the limits on the interest of a Reversion?
No limits
Alienable, devisable, descindible.
11What are the limits on the interest of the Possibility of Reverter
May have statute for expiration date.
12What are the limits on the interest of Right of Re-Entry?
May be waived by words of conduct.
Inaction upon condition subsequent not enough, but if detrimental reliance: waiver/estoppel.
13What are the limits on the interest of Vested Remainder Subj. to Open?
Rule of Concenience: as soon as one member may collect her share, the class closes.
14What are the limits on the interest of Vested Remainder Subject to Full Divestment?
Limited by terms that created it
15What are the limits on the interest of Executory Interest?
Limited by terms that created it
16How was the interest created? Fee Simple Absolute
"To A" or "To A and her heirs"
SoF applies
Common Law: "his heirs" required
Modern: No special words. FSA if not indicated.
17How was the interest created? Fee Simple Determinable
"To A so long as ..."
"while"
"during"
SOF applies
18How was the interest created? Fee Simple Subject to Condition Subsequent
"To A, but if..."
"provided that..."
"however, on condition that..."
Right of Re-Entry must be in express language.
19How was the interest created? Fee Simple Subject to Executory Interest
Either FSD or FSCS language follows by "then to B"
SOF applies
20How was the interest created? Life Estate
"To A for life"
"for as long as she shall live"
SOF applies
21How was the interest created? Life Estate pur autre vie
Created when a life estate is sold OR directly: "To A for the life of B"
SOF applies