Present Estates

Question 1

What are the different types of present estates?

Answer 1

Fee Simple Absolut (FSA)
Life Estate (LE)
Defeasing Estates (Cut Short Present Estates)

Question 2

What is a Fee Simple Absolute?

Answer 2

ALL interests in land; interest goes on forever.
i. “To A;” no interest follows it. A owns everything.

Question 3

What is a life estate?

Answer 3

Ownership for life ONLY
“To A for life”
i. Always an associated future interest:
1. Goes back to grantor (reversion) or goes to someone else (remainder)

Question 4

What are the different types of defeasing estates?

Answer 4

Fee Simple Determinable (FSD)
Fee Simple Subject to a Condition Subsequent (FS/CS)
Fee Simple Subject to Executory Limitation (FS/EL)

Question 5

What is a fee simple determinable?

Answer 5

DURATIONAL
1. Ends automatically
2. “So long as,” “Until” “as long as.”
3. If condition happens, land automatically goes back to grantor. (Possibility of reverter)

Question 6

What is a fee simple subject to a condition subsequent?

Answer 6

CONDITIONAL
1. Does not automatically end.
2. “But if” “provided that”
a. Grantor must take action to get land back. (Right of entry)

Question 7

What is a fee simple subject to executory limitation?

Answer 7

THIRD PARTY
Goes to a third party automatically.
“To A so long as used for church, then to B”
i. If condition breaks, B automatically gets it.

Question 8

What are the associated future estates created?

Answer 8

FSD: Possibility of Reverter
FS/CS = Right of Entry
FS/EL = Executory Interest

Question 9

What are the hints for present estates?

Answer 9

i. Assume a grantor grants their entire estate unless a lesser estate is clearly created.
ii. No one can convey more than they own.
iii. A living person has no heirs or devisees.
iv. Last-in-time interest is always held FSA.