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James Geoffrey Durham, University of Dayton (OH), Law, Property, Exam Fall 2002 Midterm 2, life estate,LE,finite estate,limitation,FSA,contingent remainder,FSSEL,future interest,executory interest.
Typology: Exams
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QUESTION 1: T devises Blackacre “To A for life, then to B for life, then to B’s children.” What if at the time of T’s death B has no children? What if at the time of T’s death B has one child, C?
2 A has a life estate (“for life”) and B has a remainder (follows a LE, a finite estate) in LE (“for life”).
2 B’s remainder is vested because he is ascertained and there is no stated condition precedent; he has an interest for as long as he lives. B’s children have a remainder (follows a LE, a finite estate) in FSA (no stated condition or limitation).
2 If B has no children, the remainder is contingent (none ascertained). T’s heirs have a reversion in FSA (follows a contingent remainder in FSA) in FSA (what T started with).
2 If B has a child, C, then C has the remainder and it is vested subject to open because C is ascertained and ready to take but B may have more children.
2 Both contingent remainders and vested remainders subject to open are subject to the RAP. A and B are lives in being and this will be resolved when the last of them dies. CK&C: create a new child for B, kill everyone off and the child’s interest immediately vests alone (B has no children) or along with C’s (C has been born).
QUESTION #2: O conveys Greenacre “To A and her heirs so long as A uses Greenacre as a wild life preserve, and if A fails to use Greenacre as a wild life preserve then to B and his heirs so long as B uses Greenacre as a wild life preserve.”
2 A has a fee simple (“and her heirs”) subject to an executory limitation (condition subsequent that will cut the possessory fee simple short with the future interest in one other than the grantor).
2 B has a shifting executory interest (follows a FSSEL) in FSD (condition subsequent that will cut the possessory fee simple short with the future interest in the grantor).
2 B’s EI is valid under the RAP because it is tied to a life in being (A has to use as a wild life preserve) or if you CK&C then A’s devisees or heirs have FSA (because A may no longer violate the limitation).
2 Grantor has a possibility of reverter (follows B’s FSD) in FSA (what she started with). Possibilities of reverter are not subject to the RAP.
QUESTION 3: O conveys Redacre “To A for life, then to such of A’s grandchildren as attain the age of 21.” What if at the time of the conveyance A has three grandchildren alive whose ages are 12, 16, and 20? What if at the time of the conveyance A has three grandchildren alive whose ages are 17, 19 and 23?
2 A has a life estate (“for life”) and A’s grandchildren have a remainder (follows a LE, a finite estate) in FSA (no conditions or limitations).
2 Any grandchild under 21 has a contingent remainder (condition precedent of reaching 21). If there is a grandchild 21 years of age or older you could say that grandchildren under 21 have shifting executory interests (will partially divest the older grandchild’s vested interest). O has a reversion (follows a contingent remainder in FSA) in FSA (what O started with).
2 The 23 year old has the remainder subject to open. She has met the condition precedent and definitely will take when A dies, but she may have to share with the other grandchildren.
2 If no grandchild is 21 or older when O conveys and the remainder is contingent, then it is void by the RAP and O has the reversion. A is the life in being and we cannot say this will be resolved within 21 years of when he dies. CK&C: create a new child for A, kill everyone else, and no grandchild may even be born during the next 21 years.