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Property Law: Estates and Future Interests

Present estates, remainders, executory interests, and RAP in exam-ready lines.

12 cards· by GuruOwl

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  1. 01
    What is a fee simple absolute?
    The largest estate: potentially infinite duration, freely alienable, no future interest in another.
    estates
  2. 02
    What is a life estate?
    An estate measured by a life (or lives); ends at death of the measuring life; followed by a remainder or reversion.
    estates
  3. 03
    Fee simple determinable — language and future interest?
    “So long as / until / while” — automatic end on condition; future interest = possibility of reverter in grantor.
    defeasible
  4. 04
    Fee simple subject to condition subsequent — language and future interest?
    “But if / provided that / on condition that” — grantor must exercise right of entry/power of termination.
    defeasible
  5. 05
    Vested vs contingent remainder?
    Vested: ascertained taker + no condition precedent. Contingent: unascertained taker or subject to condition precedent.
    remainders
  6. 06
    What is an executory interest?
    A future interest in a transferee that cuts short a prior estate or springs in the future (not a remainder).
    future-interests
  7. 07
    Rule Against Perpetuities (classic common-law statement)?
    No interest is good unless it must vest, if at all, no later than 21 years after some life in being at the creation of the interest.
    rap
  8. 08
    Which interests does RAP typically apply to?
    Contingent remainders, executory interests, and certain options/class gifts — not vested remainders in individuals or reversions.
    rap
  9. 09
    What is a tenancy in common?
    Co-ownership with undivided interests, no right of survivorship; freely devisable/descendible/alienable.
    concurrent
  10. 10
    What is a joint tenancy’s distinguishing feature?
    Right of survivorship; traditionally requires four unities (time, title, interest, possession).
    concurrent
  11. 11
    What is adverse possession (elements sketch)?
    Actual, exclusive, open and notorious, adverse/hostile, continuous for the statutory period.
    adverse-possession
  12. 12
    What is a real covenant vs equitable servitude (remedy difference)?
    Covenant: damages; equitable servitude: injunction. Both can run with the land if elements met.
    servitudes