Estates in Land and Future Interests : A Step-By-Step Guide

by Edwards, Linda Holdeman

• ISBN13: 9780735549524
• ISBN10: 0735549524
• Edition: 2nd
• Format: Paperback
• Copyright: 2005-01-01
• Publisher: Wolters Kluwer

Summary

This effective ancillary text provides students with a class-tested method for learning the complex terminology and concepts of estates and future interests. By skillfully using graphics, text boxes, and pedagogical techniques that are especially helpful for visual learners, ESTATES IN LAND AND FUTURE INTERESTS: A Step-by-Step Guide, Second Edition, demystifies this particularly confusing subset of first-year property. The book achieves a high degree of clarity by: using one central graphic iquest; a flow chart that identifies the state of a title after a particular conveyance iquest; to link various estates To The future interests that follow them; the complete chart appears on the inside back cover for fast reference taking a step-by-step, process approach to break up the analytical tasks into smaller steps, which reduces the degree to which students get lost in the material providing a variety of opportunities for students to actively engage in the material, including problem sets and answers, study questions, and practice exercises including a carefully crafted vocabulary appendix that allows students to review terms easily and quickly matching coverage to Dukeminier and Krieriquest;s PROPERTY, The leading casebook in the field, and most other Property casesbooks facilitating class presentation for instructors and visual learning for students through a Teacheriquest;s Manual and PowerPoint slides Fully revised for its Second Edition, The text now: covers the USRAP (Uniform Statutory Rule Against Perpetuities) and other statutory revisions To The common law Rule Against Perpetuities includes new exercises responds to user comments

Table of Contents

Preface	xvii
Acknowledgments	xix
Introduction to the Study of Estates and Future Interests
Study Questions	4	(4)
Possessory Estates
The Nature of the Possessory Estate	8	(6)
The Fee Simple	9	(1)
The Fee Tail	10	(2)
The Life Estate	12	(1)
The Term of Years	13	(1)
What Can the Owner of a Fee Simple, a Fee Tail, a Life Estate, or a Term of Years Convey?	14	(2)
What If the Conveyance Has No Words of Limitation?	16	(1)
What Happens to the Land When an Inherently Limited Estate Ends?	16	(1)
Study Questions and Practice Exercises	17	(4)
Limitations Added to Possessory Estates
No Added Limitations	21	(2)
Added Limitations	23	(10)
Recognizing the End of One Estate and the Beginning of Another	24	(1)
The Determinable Estate	25	(2)
Estates Subject to a Condition Subsequent	27	(6)
Non-Fee Simple Estates with Added Limitations	33	(1)
Two Reminders About Using the Chart	33	(1)
Memory Work	34	(1)
Study Questions and Practice Exercises	34	(5)
Future Interests Retained by the Grantor
No Future Interest Follows a Fee Simple Absolute	39	(2)
The Grantor's Future Interest Following an Estate That Ends Naturally (A Reversion)	41	(1)
The Grantor's Future Interest Following a Determinable Estate (A Possibility of Reverter)	42	(2)
The Grantor's Future Interest Following an Estate Subject to a Condition Subsequent (A Right of Entry)	44	(2)
Identifying the Durational Nature of the First Future Interest	46	(2)
Study Questions and Practice Exercises	48	(3)
Estates Followed by Remainders
Remainders	51	(4)
Vested and Contingent Remainders	55	(2)
Ascertained Person	57	(1)
Class Gifts	58	(1)
Review of the Requirement That the Holder Be Ascertained	58	(1)
Condition Precedent	59	(2)
Remainders That Are Contingent for More Than One Reason	61	(1)
Adding ``Vested'' and ``Contingent'' to the Chart	61	(1)
Reversions Following Contingent Remainders	62	(2)
Alternative Contingent Remainders	64	(2)
Memory Work	66	(1)
Study Questions and Practice Exercises	66	(5)
Estates Followed by Executory Interests
A Determinable Estate Followed by an Executory Interest	71	(4)
Estates Subject to an Executory Limitation	75	(4)
Two Future Interests Held by the Second Grantee	79	(1)
A Note About Interpretation	79	(1)
Study Questions and Practice Exercises	80	(5)
Accounting for Additional Future Interests, Class Gifts, and Subsequent Divesting
Additional Future Interests	85	(6)
Vested Remainders Subject to Divestment	91	(2)
Describing a Vested Remainder Subject to Divestment	93	(1)
Vested Remainders Subject to Open	94	(1)
Study Questions and Practice Exercises	95	(4)
Shifting and Springing Executory Interests
Review of Shifting Executory Interests	99	(1)
Springing Executory Interests	99	(2)
Study Questions and Practice Exercises	101	(2)
Review of Future Interests in a Second Grantee and the Estates They Follow
Remainders	103	(1)
Executory Interests	104	(1)
Vested Remainders Subject to Divestment	104	(1)
Examples	105	(1)
Study Questions and Practice Exercises	106	(5)
What Is the State of the Title?
Optional Practice	111	(3)
Post-Conveyance Factual Developments
Deaths	114	(1)
Removal of Contingencies	115	(2)
Subsequent Vesting of a Contingent Remainder	117	(1)
Conveyance of a Fee Tail	117	(1)
Subsequent Conveyance of a Reversion or a Remainder	118	(1)
Future Interests Moving into Possession	119	(1)
Merger	120	(2)
The Continuation of Conditions: Destruction of Contingent Remainders	122	(2)
Study Questions and Practice Exercises	124	(5)
More Efforts to Further Alienability
The Rule in Shelley's Case	129	(2)
Shelley's Case and Merger	131	(1)
The Doctrine of Worthier Title	132	(2)
Worthier Title and Merger	134	(1)
Review	135	(1)
Study Questions and Practice Exercises	136	(1)
The Infamous Rule Against Perpetuities
Preparing to Study the Rule	137	(3)
Vested Interests vs. Contingent Interests	137	(1)
Closed Interests vs. Interests Subject to Open	138	(1)
When a Will Is Effective	139	(1)
The Fetus (Gestation) Rule	139	(1)
Medical Advances in Treating Infertility	139	(1)
The Fertile Octogenarian	139	(1)
The Unborn Widow	140	(1)
The Rule's Purpose	140	(3)
The Rule's Meaning	143	(3)
Calculating the Permitted Time Period	143	(1)
Deciding How Long an Interest Might Remain Contingent	143	(2)
Validating Life	145	(1)
An Example of an Interest That Violates the Rule	145	(1)
A Step-by-Step Approach for Applying the Rule	146	(3)
Study Questions	149	(2)
Applying the Rule Against Perpetuities
Danger Signs	151	(6)
Examples	152	(5)
Analyzing Various Kinds of Future Interests	157	(5)
Study Questions and Practice Exercises	162	(5)
Relief from the Rule Against Perpetuities
The Effect of the Destructibility of Contingent Remainders Doctrine	167	(1)
The Charitable Exemption	168	(1)
Reforming Invalid Interests	169	(1)
Statutory Modifications of the Rule Against Perpetuities	169	(2)
Wait For the Common Law Time Period	169	(1)
Wait For 90 Years	170	(1)
Saving Clauses	171	(1)
Study Questions and Practice Exercises	171	(5)
Putting It All Together
Study Questions and Practice Exercises	176	(3)
Appendix A: An Alternative Outline of Estates and Future Interests	179	(4)
Appendix B: Vocabulary	183	(6)
Appendix C: Answers to Study Questions and Practice Exercises	189	(36)
Appendix D: Practice Exercises for Use in Class	225	(6)
Appendix E: Collection of Outlines and Summary Boxes	231	(12)
Index	243