Law in Contemporary Society

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PropertyStudyResources 4 - 18 Apr 2021 - Main.JackSherrick
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-- JackSherrick - 12 Apr 2021

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Future Estates

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<		A very rigid system. Hyperformalist. What many people w/o legal background expect the law to be. Executory interest - a future interest held by a non-grantor that either cuts off another’s interest [before its natural expiration] or begins after the natural termination of a preceding estate Fee simple - present estate that could potentially last forever in that property interest does not lapse after death or lapse of time. 4 types of fee simple estates. Generally means they own the property outright and can decide what happens to property when it leaves their hands. E.g. sell it, devise it in will, etc. Fee simple absolute - fee simple without an associated future interest. This is sort of default O to A | O to A and her heirs | O to A in fee simple “To A,” “to A and her heirs” (don’t have to say “and her heirs”) Cannot create a condition prohibiting the alienation of a vested fee simple estate (Edwards v. Bradley)

Defeasible Fee Simple - present interests that terminate at the happening of a specified event other than death of current owner Fee simple determinable - possibility of reverter if condition comes about O to A so long as used for residential purposes O to A on condition property is used for residential purposes; in the event it is not, O shall have right of entry Possibility of reverter - automatically goes back to grantor moment condition is violated. This is something that happens to you This is a future interest Words of duration “as long as,” “during” “until” “while” etc. The language of a deed must be extremely specific to set up a fee simple determinable (Wood v. Board of County Commissioners of Fremont County - Ps tried to convey land to be used as hospital in fee simple determinable or fee simple subj to condition subsequent but the court ruled Ps had no interest in the land after looking at the language of the deed)

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  1. A very rigid system. Hyperformalist. What many people w/o legal background expect the law to be.
  2. Executory interest - a future interest held by a non-grantor that either cuts off another’s interest [before its natural expiration] or begins after the natural termination of a preceding estate
  3. Fee simple - present estate that could potentially last forever in that property interest does not lapse after death or lapse of time. 4 types of fee simple estates.
    • Generally means they own the property outright and can decide what happens to property when it leaves their hands. E.g. sell it, devise it in will, etc.
    • Fee simple absolute - fee simple without an associated future interest. This is sort of default
      • O to A | O to A and her heirs | O to A in fee simple
      • “To A,” “to A and her heirs” (don’t have to say “and her heirs”)
      • Cannot create a condition prohibiting the alienation of a vested fee simple estate (Edwards v. Bradley)

  1. Defeasible Fee Simple - present interests that terminate at the happening of a specified event other than death of current owner
    • Fee simple determinable - possibility of reverter if condition comes about
      • O to A so long as used for residential purposes
      • O to A on condition property is used for residential purposes; in the event it is not, O shall have right of entry
      • Possibility of reverter - automatically goes back to grantor moment condition is violated. This is something that happens to you
        • This is a future interest
        • Words of duration “as long as,” “during” “until” “while” etc.
    • The language of a deed must be extremely specific to set up a fee simple determinable (Wood v. Board of County Commissioners of Fremont County - Ps tried to convey land to be used as hospital in fee simple determinable or fee simple subj to condition subsequent but the court ruled Ps had no interest in the land after looking at the language of the deed)
 Determinable deals with durations Fee simple subject to condition subsequent (755) Right of entry - grantor can choose whether or not property reverts when condition is violated. Liberty or power you can decide to exercise or not

Revision 4r4 - 18 Apr 2021 - 18:27:28 - JackSherrick
Revision 3r3 - 14 Apr 2021 - 17:08:45 - JackSherrick
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