estates and future interests - tom w. bellfis.pdf · notes time flows from left to right. text =...
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EstatesEstates and Future InterestsA Visual Guide to the Majority Rules of U.S. Property Law
© 2010 Tom W. Bell www.tomwbell.com\teaching\PropI_Estates&FIs.pdf v. 2010.10.17 p. 1/2
Transfers of Fee Simple Absolute (“FSA”) Note: transfers of lesser estates take similar form.
Fee Simple (“FS”) Defeasible Estates Note: lesser defeasible estates take similar form.
O‘s FSAO‘s FSA“to A” insale, gift,
or will
intestatesuccession
to A
“to A”+
motive
“to A” withundue restrainton alienation
A‘s FSAA‘s FSA
adversepossession
by A
takingbyA
“to A”contraRAP
“to A”orally
“to A andthe heirs
of A’s body”
O‘s FSAO‘s FSA“to A [limited in durational terms]”
A‘s FS determinableA‘s FS determinable
O‘s possibility of reverter in FSA
O‘s FSAO‘s FSA“to A [limited in conditional terms]”
A‘s FS subject to condition subsequent A‘s FS subject to condition subsequent
O‘s right of entry in FSA [Note: not automatic]
O‘s FSAO‘s FSA“to A [limited in any terms] then to B”
A‘s FS subject to executory limitationA‘s FS subject to executory limitation
B‘s executory interest in FSAB‘s FSAB‘s FSA
O‘s FSAO‘s FSA
O‘s FSAO‘s FSA
Fee Simple (“FS”) Estates Subject to Executory Limitations
O‘s FSAO‘s FSA
O‘s FSAO‘s FSA“to A, but [upon
a condition] to B”A‘s FS subject to aA‘s FS subject to a
shifting executory limitationshifting executory limitation
B‘s shifting executoryinterest in FSA
B‘s FSAB‘s FSA A‘s FSAA‘s FSAA‘s vested remainder
in FSA subject to divestment
“to A [upona condition]”
O‘s FS subject to aO‘s FS subject to aspringing executory interestspringing executory interest
A‘s springing executoryinterest in FSA
B‘s FSAB‘s FSA O‘s FSAO‘s FSAO‘s defeasibly vested
remainder in FSA
O‘s FSAO‘s FSA“to A for life,
then if B[satisfies a
condition] to B”
A‘s Life EstateA‘s Life Estate
O‘s vested reversion in FS defeasibleO‘s FS DefeasibleO‘s FS Defeasible
B‘s FSAB‘s FSAB‘s springing executory interest in FSA
1Text:passim
2
Text:p. 224
3Text:p. 224
4Text:p. 225p. 269ex. 17
5Text:p. 268ex. 13
6Text:p. 268 ex. 14p. 269 ex. 16
7Text:p. 259
R
R
R
R
Not
es
Time flows from left to right. text = Property (7th ed., Duke. ... eds.) = legally invalidated Transfers flow down. A, B, C = owners = continues indefinitely Future interests flow up. RAP = Rule Against Perpetuities = interest subject to RAP Lines trace exclusive alternatives. Thanks to: Chapman 2010§31Ls, Ken Stahl, Donald Kochan
Life Estates (“LE”s)
O‘s FSO‘s FS“to A for life”
A‘s LEA‘s LE
O‘s indefeasibly vested reversion in FSO‘s FSO‘s FS
O‘s FSO‘s FS“to A for life, then to B
[upon a condition]”
A‘s LEA‘s LE
O‘s defeasibly vestedreversion in FS
O‘s FSO‘s FSB‘s contingent
remainder in FS
B‘s FSB‘s FS
O‘s FSO‘s FS“to A for life, then to B,
but [upon a condition] to O”
A‘s LEA‘s LE
O‘s defeasibly vestedreversion in FS
O‘s FSO‘s FSB‘s remainder in FS vested
subject to divestment
B‘s FSB‘s FS
O‘s FSO‘s FS“to A for life, then to B,
but [upon a condition] to C”
A‘s LEA‘s LE
C‘s shifting executoryinterest in FS
C‘s FSC‘s FSB‘s remainder in FS vested
subject to divestment
B‘s FSB‘s FS
O‘s FSO‘s FS“to A for life, then to B and
[as-yet unascertained takers]”
A‘s LEA‘s LE
other (if any) class members’executory interests in FS
members’ shared FSmembers’ shared FSB‘s remainder in FS
vested subject to open
B‘s FSB‘s FS
© 2010 Tom W. Bell www.tomwbell.com\teaching\PropI_Estates&FIs.pdf v. 2010.10.17 p. 2/2
O‘s FSO‘s FS“to A for life, then to B
[limited in durational terms]”
A‘s LEA‘s LE
O‘s defeasibly vestedreversion in FS
O‘s FSO‘s FSB‘s remainder in FS vested
subject to limitational defeasance
B‘s FSB‘s FS
O‘s FSO‘s FS“to A for life, then to B
[upon a condition], else to C”
A‘s LEA‘s LE
C‘s alternative contingentremainder in FS
C‘s FSC‘s FSB‘s alternative contingent
remainder in FS
B‘s FSB‘s FS
O‘s FSO‘s FS“to A for life, then
then to [as-yetunascertained takers]”
A‘s LEA‘s LE
other (if any) classmembers’ executory
interests in FS
members’ shared FSmembers’ shared FSfirst (if any) class member’s
contingent remainderin FS subject to open
member‘s FSmember‘s FS O‘s FSO‘s FSO‘s defeasibly
vested reversionin FS
O‘s FSO‘s FS“to A for life, then to B”
A‘s LEA‘s LE
B‘s indefeasibly vested remainder in FSB‘s FSB‘s FS
R
R R
R
RR
R
R R
8Text:p. 225ex. 1
9
Text:p. 229ex. 3
10
Text:p. 256ex. 2p. 261ex. 6
11
Text:p. 261ex. 7
12
Text:p. 260ex. 4
13
Text:p. 260ex. 5
14
Text:p. 223
15
Text:[none]
16
Text:p. 261ex. 8p. 268ex. 15