We can have two people who own the property FSA OHFT Reversion NOT A

We can have two people who own the property fsa ohft

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We can have two people who own the property… FSA – OHFT = Reversion – NOT A POSSIBILITY OF REVERTER! ° ° In Majority of American jurisdictions if A gives “To be and the heirs of his body” A HAS NOTHING B/C B has a FEE SIMPLE ABSOLUTE . ° EX: If I have a fee simple absolute and grant a fee tail. Do we have something left over? YES: A REVERSION o The Reversion in FEE SIMPLE B/c your giving something and then if you get it back it’s in that form. ° EX: Is a life estate bigger than an estate for years? Yes . What’s left over? o Reversion in life estate. Any life estate is better than any leasehold … it’s a hierarchal thing. ° EX: FSA and I give you a FT – “To A and the Heirs of His Body” What happens when person who receives FT dies? o What happens to the fee? o Grantor has a reversion in fee tail Let’s say grantee has never had a child… it would revert back to Grantor and would have FSA. ( IF HE DIES WITHOUT LIVING ISSUE) Let’s say grantee has a child Jr, what happens when grantee dies, it would go back to grantor, than back to Jr. AS A FEE TAIL. (that’s how the fee tail operates). ° REVERSION = inheritable, devisable, alienable. (LEARN THIS!!!) Heirs can take it… can be sold… can be willed etc. ° EX: If I have a fee simple absolute and grant a fee tail. Do we have something left over? YES: A REVERSION o The Reversion in FEE SIMPLE B/c your giving something and then if you get it back it’s in that form. ° EX: Is a life estate bigger than an estate for years? Yes .
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What’s left over? o Reversion in life estate. Any life estate is better than any leasehold … it’s a hierarchal thing. ° EX: FSA and I give you a FT – “To A and the Heirs of His Body” What happens when person who receives FT dies? o What happens to the fee? o Grantor has a reversion in fee tail Let’s say grantee has never had a child… it would revert back to Grantor and would have FSA. ( IF HE DIES WITHOUT LIVING ISSUE) Let’s say grantee has a child Jr, what happens when grantee dies, it would go back to grantor, than back to Jr. AS A FEE TAIL. (that’s how the fee tail operates). ° REVERSION = inheritable, devisable, alienable. (LEARN THIS!!!) Heirs can take it… can be sold… can be willed etc.
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Topic III: Estates In Land and Future Interest (Part 2) – Questions and Answers 1. Apply De Donis common-law rules (but not modern rules) to the following set of facts. A has a FSA. A makes a grant “to B and the heirs of his body.” ° A has given B: a Fee Tail ° A has: a reversion. ° B’s heirs have: nothing. ° ° B has a child, C ° C has: nothing!; Heirs have nothing, they are words of limitation ° B has: Fee Tail ° Further Explanation: How does a Fee Tail operate: o A has FSA, B has a Fee tail; A has reversion Fee simple absolute Once B dies, C (B’s baby) is a life at the time B is alive so C has a Fee Tail, A still has a reversion FSA C dies, A NOW HAS FSA o A gives B a fee tail, B dies
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