Estates in Land Part II Defeasible Estates.pptx - PROPERTY LAW Eric V Hull J.D LL.M Professor of Law Class 12 Estates in Land(Part II Defeasibility

Estates in Land Part II Defeasible Estates.pptx - PROPERTY...

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PROPERTY LAW Eric V. Hull, J.D., LL.M. Professor of Law Class 12: Estates in Land (Part II)
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Defeasibility : Estate will terminate, prior to its natural end point, upon the occurrence, or non-occurrence, of some specified future event. Note: All estates in land can be made defeasible.
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3 TYPES OF DEFEASIBILITY Key: These apply anytime any interest is made defeasible. 1. Fee simple determinable 2. Fee simple subject to condition subsequent 3. Fee simple subject to executory limitation
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Fee Simple Determinable Because it is possible that A’s estate will last forever, A has a fee simple . However, because the estate will end in the future if the stated event occurs the fee simple is not absolute . O, owning Blackacre in fee simple absolute, grants Blackacre to A and his heirs for so long as the land is used for residential purposes, and if it ever ceases to be used for residential purposes the land will automatically revert to the grantor (O)or his heirs. Note: Most conveyances omit the last clause. Note : Every fee simple determinable is followed by a future interest called a possibility of reverter .
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Fee Simple Determinable A determinable fee is created when the grantor uses language that show the grantor is giving a fee simple only until a stated event occurs or fails to occur as required . In that event, the estate ends automatically and the land goes back (reverts) to grantor. Otherwise, the estate continues. Key : Look for words limiting the duration of the estate. Ex. To A, so long as. . . To A, until. . . To A, while . . . To A , during. . . O, owning Blackacre in fee simple absolute, grants Blackacre to A and his heirs for so long as the land is used for residential purposes .
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Distinguish between words limiting duration and statements of motive or purpose. Only words limiting duration create a fee simple determinable. Ex. 1. O coveys Greenacre to A for so long as A uses Greenacre for recreational purposes. Ex. 2 O coveys Greenacre to A for the purpose of being used for recreational purposes. Which one is a fee simple determinable? Only example 1 . The words in example 2 show O’s motive for granting the land, but they do not place any limits on the duration . What does A have in example 2? A fee simple absolute. He can do whatever he wants with the land.
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Fee Simple Subject to Condition Subsequent Because it is possible that A’s estate will last forever, A has a fee simple . However, because the estate may be cut short in the future if a stated event occurs the fee simple is not absolute . O, owning Blackacre in fee simple absolute, grants Blackacre to A and his heirs upon the condition that the land is used for residential purposes, and if it ever ceases to be used for residential purposes the grantor (O)or his heirs may reenter and retake possession and terminate the interest of A.
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  • Fall '08
  • lew
  • Fee simple, Real property law, school district, Future interest, Defeasible estate

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