Scribd Logo
Upload

Welcome to Scribd!

  • Future Interests Guide

    Uploaded by

    Susie Papakanakis
    1 views49 pages
    Future Property Interests

    Copyright

    © © All Rights Reserved

    Available Formats

    PDF or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    Report this Document
    Future Property Interests

    Copyright:

    © All Rights Reserved
    Download as PDF or read online from Scribd
    Flag for inappropriate content
    1 views49 pages

    Future Interests Guide

    Uploaded by

    Susie Papakanakis
    Future Property Interests

    Copyright:

    © All Rights Reserved
    Download as PDF or read online from Scribd
    Flag for inappropriate content
    of 49
    CHAPTER 2: FUTURE INTERESTS BEFORE 1536 a 49 D. Review Problem Set 1. Give the “state of the title” in each of the grants below, that is to say, tell what present or future interest in the land each of the parties has at Tg. HINT: Although we have listed O first, you may find it easier fo name the other interests first, before deciding what, if ‘anything, O has retained. A has b. O-A in fee simple absolute. O has A has ©. O-+A and the male heirs of his body. O has A has 50 50 o ESTATES IN LAND AND FUTURE INTERESTS 4. O-+A for life, then to B and his heirs. [B is O’s older brother, alive at Tg.] O has A has B has © O-+A for life, then if A dies unmarried, to B and his heirs, otherwise to W for life. O has 2. In each case below, what is B’s interest? The time of the grant is 1530. a. O-» Band his heirs. b. O-+ Band his heirs as long as the fences stay in good repair. CHAPTER 2: FUTURE INTERESTS BEFORE 1536 . 51 ©. O-+ Band his heirs, but if a Democrat is ever elected President, O may reenter and reclaim the land. da O — Band the heirs of his body. &. O-+ A and his heirs. [B is A’s oldest boy, alive and well at Tg.] £. O-+A for life, then if B marries C, to C and her heirs. & O-+A for life, then if B marries C, to B and his heirs. hb. O-+A and his heirs, but if the land is ever used for commercial purposes, to B and his heirs. i, OA for life, then to W for life, then, if Z is still alive, to C for life, otherwise to B and his heirs. 3. In each case below, O is your client. If possible, construct a grant that will dispose of her property in the way she desires. If it can’t be done, explain why. a. O wants her friend A to have a fee simple absolute. b. O wants A to have a fee simple—“almost”; i.e., she never wants the land to be used for commercial purposes. 52 ESTATES IN LAND AND FUTURE INTERESTS O wants A to have a fee simple, unless and until B returns from Rome, in which case she wants B to have a fee simple. O wants her son to have the land until he dies and afterwards she wants it to return to her, unless she is dead, in which case she wants it to go to her heirs. © would like to let A have the land while A is alive. After A dies, © wants the land to go either to B or to C depending on who gets married first—O wants the land to go to the first of the two to marry. O wants her friend A to have the land for-A’s lifetime and then she wants it to go to her friend B’s youngest son, but only if B marries C. If B doesn’t marry C, then O wants the land to go to the Catholic Church, but only for as long as it is used for church purposes. © wants the land to go to A and stay in A’s direct family line. ‘What does the following statute mean? Unless 2 different purpose appears by express words or by necessary inference, every estate in land created by deed or will, without words of inheritance, shall be deemed an estate in fee simple. CHAPTER 2: FUTURE INTERESTS BEFORE 1536 a 5. Classify the first future interest in each of the conveyances below as either: a None; the future interest is illegal, void or meaningless before 1536; A vested remainder; or A contingent remainder. (1) ___. OA for life, then to B and his heirs. [B is alive and well.) @ O — A and his heirs, then to B and his heirs. [B is alive and well.] GB) O — A for life, then to B’s oldest child living at A’s death. 4 O — A and his heirs, but if the land is not farmed, to B and his heirs. 6) O— A for life, then if X has married ¥, to C and his heirs, but if X has not married Y, then to B and his heirs. sd 2 ESTATES IN LAND AND FUTURE INTERESTS Answers to Review Problem Set Give the “state of the title” in each of the grants below (that is to say, tell what present or future interest in the land eachi of the parties has at Tg). a OmA. O has a reversion. A has a life estate, b. O-+A in fee simple absolute. : O has a reversion. A has a life estate. (Remember, the magic words “and his heirs” were required sat common law.) « O — A and the male heirs of his body. O has a reversion. A has a fee tail male. d. O-A for life, then to B and his heirs. [B is O's older brother, alive at Ty.] © has nothing. A has a life estate. B has a vested remaisider in fee simple. ©. O—+ A for life, then if A dies unmarried, to B and his heirs, otherwise to W for life. O has a reversion. A has a life estate. B has a contingent remainder in fee sit ‘W has an alternative contingent remainder in a life estate, 5S CHAPTER 2: FUTURE INTERESTS BEFORE 1536 5 In each case below, what is B’s interest? The time of the grant is 1530. a. O — B and his heirs. " B has a fee simple. 0 — Band his heirs as long as the fences stay in good repair. B has a fee simple determinable. O — B and his heirs, but if a Democrat is ever elected President, O may reenter and reclaim the land. B has a fee simple on condition subsequent. (Once again, it was friendly of you to avoid comment on the anachronism.) OB and the heirs of his body. B has a fee tail. 0 —+ A and his heirs. (B is A’s oldest boy, alive and wel’ Tg.) B has nothing. B only has an expectancy, not considered a property interest, that he will be entitled to the property when A dies. OA for life, then if B marries C, to C and her heirs. B has nothing. This one might properly be called a “trick question.” Note that there is no grant at all to B. We did not mean for you to wonder about any property rights that B gets by being C’s husband. OA for life, then if B marries C, to B and his heirs. B’s interest depends on Bs marital status. Assuming that B is unmarried, B has a contingent remainder in fee simple. If B is married to C, then the remainder is vested. If B has married someone else, then the remainder is contingent, as B might still divorce that person and marry C. O — A and his heirs, but if the land is ever used for commercial purposes, to B and his heirs. B has nothing. The “but if” language purports to cut short A’s interest, so the interest © attempted to give B is void before 1536. 5 ESTATES IN LAND AND FUTURE INTERESTS: ° - ie -O=+ A for life; then to W for life, then, if Z is still alive, to C Sor life, otherwise to B and-his heirs. B has an-alternative contingent remainder in foe simple. In each case below, O is your client. If possible, construct a grant - that will dispose of her property in the way she desires. If it can’t be done, explain why. a. _O wants her fiend A to have a fee simple absolute. OA and her heirs. ob. : O wants. to-have:a fee’ simple—“almost”; ie, she never wants the land to be used for commercial purposes. 0+ A and his heirs as long as the land is not used for commercial purposes. . c. O wants A'to have a fee simple, unless and until B returns from Rome, in which case she wants B to have a fee simple. “This is not possible at comimon law before 1536: d.° © wants her son to have the land until he dies and afterwards she wants it to return to her, unless she is dead, in which case she wants it to:go to her heirs. O-» Son for life © ‘O would like to let-A have the land while A is alive. After A dies, O wants the land to go either to B or to C depending on who gets matried first—O- wants the land to go to the first of the two to marry. 0 'A for life, and then io the first of B and C to marry and that persons heirs. bay CHAPTER 2: FUTURE INTERESTS BEFORE 1536 a We guess that ‘You thight have tried tis, ‘which would have done just as: well: OA for life, then to B and his heirs, if B marries before C does, but if C marries first, then to C and his Note that in both cases, O has’ a reversion, ‘which’ will-’bécome possessory if neither B nor C has married at the time of A's death. £ O wants her friend A to have. the-land for A’s lifetime and then she wants it to go to her friend B's youngest son, but only if B marries C. If B doesn’t marry C, then O wants the land to go to the Catholié Church, but only for as long as it is used for church purposes. * OFA for'life, thenif B marries ‘C, to B's youngest son, » but if B doesn't marry C, to the Church as long as the land is used for church purposes. -B:.,, . .O.wants the land to go to A and stay in A’s direct family line. O + A aand the-heirs ofthis body. 4, What does the following statute mean? ‘Unless different purpose ‘appears by express words or by necessary inference, every estate in land created by deed or will, without words of inheritance, shall be deemed an estate in fee simple. This statute makes the words “and his heirs” unnecessary for the creation of a fee simple. Such statutes are common now. See, 2g., CAL. Civ. CODE § 1105 (West 1982). ESTATES IN LAND AND FUTURE INTERESTS 5. Classify the first future interest in each of the conveyances below as either: a None; the future interest is illegal, void or meaningless before 1536; A vested remainder; or A contingent remainder. (1) _b. OA for life, then to B and his heirs. [B is alive and well.] (2) 8. O-+ A and his heirs, then to B and his heirs. [B is alive and well.) G) _¢. OA for life, then to B's oldest child living at A’s death. (4) _a. O-— A and his heirs, but if the land is not farmed, to B and his heirs. (6) _c. OA for life, then if X has married ¥, to C and his heirs, but if X has not married Y, then to B and his heirs. CHAPTER 3: THE FAMILY OF REMAINDERS o 83 courses and practice, and others in tax courses. This chapter was intended only to provide an introductory understanding of the family of remainders. The following summary and the problems in the review set will give you a chance to practice the new insights. Cc. Summary of Remainders 4, Vested Remainders (pre-1536) a. Vested Definition: A remainder created in an identifiable grantee or identifiable group that is not subject to any condition and that is not subject to decrease or increase. Here, and with all remainders, remember to check first to see that the future interest is a remainder; i.e, it follows an expirable estate, it is ready to take effect on expiration of the preceding estate and it does not take effect before expiration of the preceding estate. Examples OA for life, then to B and his heirs. OA for life, remainder to B for life. OA for life, then to B and his heirs as long as the land is farmed. In all of the above examples, in the classic common law language of estates in land, B is deemed to have a vested remainder. Notice in example 2 that if B dies before A, B’s interest disappears. That, however, is a function of the kind of pres- ent estate he or she will have. Further, it is true that in the third example B has an 84 o ESTATES IN LAND AND FUTURE INTERESTS interest that, once it becomes possessory, might be lost on breach of condition. Again, this is a function of the kind of present estate the future interest will become, not a fiction of the kind of remainder B has been given. Attributes: Alienable, devisable, inheritable. b. Vested, Subject to Open Definition: A vested remainder belonging to a class of persons that may increase in number. Examples OA for life, then to the children of A and their heirs. (A has one child, B.) ~

    You might also like