PROPERTY A SLIDES 3-17-15. Tuesday March 17 Wynton Marsalis, Trumpet Classic Wynton (1998) Detailed...

PROPERTY A SLIDES3-17-15

Tuesday March 17Wynton Marsalis, Trumpet

Classic Wynton (1998)

Detailed Instructions on Course Page for Thursday:

• REDWOOD: Problem 4IREDWOOD: Problem 4I

• REDWOOD: DQ4.13REDWOOD: DQ4.13

• SHENANDOAH: Problem 4O SHENANDOAH: Problem 4O

Survey for YouSurvey for Youfrom President’s Campus Coalition

on Sexual Violence Prevention & Education

• Purpose: To gather data on sexual assault and intimate violence on campus (incidence; official responses; attitudes, etc.) • Part of Nationwide Initiative on Sexual Violence at American Universities• Law Prof. Donna Coker is part of the UM Task Force and one of the survey

authors.• Participation is voluntary and responses are anonymous. • The survey is available at

http://studentvoice.com/miami/communityattitudesspring2015• Please consider participating!!

http://studentvoice.com/miami/communityattitudesspring2015

CHAPTER 4:CHAPTER 4:The Shadow of the The Shadow of the

PastPast

Source Of Chapter Title?Source Of Chapter Title?

CHAPTER 4: CHAPTER 4: The Shadow of The Shadow of the Pastthe Past• Syllabus Section E: Rules Furthering Alienability Syllabus Section E: Rules Furthering Alienability

– Not On Test; Information Only (NOTIO)Not On Test; Information Only (NOTIO)– NOTIONOTIO includes The Rule Against Perpetuities: The Rule Against Perpetuities:

One Rule to Rule Them All, One Rule to Find One Rule to Rule Them All, One Rule to Find Them, Them,

One Rule to Bring Them All and in the Darkness One Rule to Bring Them All and in the Darkness Bind Them.Bind Them.

Previously in Property APreviously in Property AChapter 4: Distinctions You Need to KnowChapter 4: Distinctions You Need to Know

•Present Possessory Estates v. Future Interests

•Fee Simple v. Finite Present Estates

•Interests Following Finite Estates: Reversions v. Remainders

•Vested v. Contingent Remainders

•Common Law v. Today

•Defeasible Interests: Determinable v. on Condition Subsequent (We’ll Review & Revisit on Thursday)

WARM-UP/REVIEW: Basic Distinctions

Present Possessory Estates v. Future Present Possessory Estates v. Future InterestsInterests

PRESENT POSSESSORY ESTATE: PRESENT POSSESSORY ESTATE: Entitles holder to immediate and current use and possession of the land in question.

FUTURE INTEREST: FUTURE INTEREST: Holder has no right to immediate and current use and possession of the land, but instead right to potentially use and possess the land at some point in the future. Possession may be relatively certain to occur (e.g., Vested Remainders, some Reversions) or dependent on uncertain conditions (e.g., Contingent Remainders, Possibilities of Reverter)


Present Possessory Estates v. Future Present Possessory Estates v. Future InterestsInterests

PRESENT POSSESSORY ESTATES PRESENT POSSESSORY ESTATES

• Fee SimpleFee Simple• Life EstateLife Estate• Term of YearsTerm of Years• Fee Tail Fee Tail

FUTURE INTERESTSFUTURE INTERESTS

• ReversionReversion• Possibility of ReverterPossibility of Reverter• Right of [Re]EntryRight of [Re]Entry• Vested RemainderVested Remainder• Contingent Contingent RemainderRemainder• Executory InterestExecutory Interest


Fee Simple Fee Simple v. v. Finite Present EstatesFinite Present Estates

FEE SIMPLE: FEE SIMPLE: Entitles holder to immediate and current use and possession of the land in question and rights to use, possess and transfer it for the infinite future.

FINITE PRESENT ESTATE: FINITE PRESENT ESTATE: Entitles holder to immediate and current use and possession of the land in question. Rights end at a fixed point in the future:•Life Estate:Life Estate: End of Original Grantee’s Life

•Term of Years: Term of Years: End of Specified Length of Time

•Fee Tail Fee Tail (Common Law): End of Grantee’s Direct Line of Descent


Interests Following Finite EstatesReversionReversion v. v. RemainderRemainder

REVERSION: REVERSION: Future interest implicitly retained by grantor when s/he conveys a finite estate without indicating who will have rights when it expires.

REMAINDER: REMAINDER: Future interest in a third party that follows naturally upon the termination of a finite estate. It is always expressly conveyed by the grantor.


Vested v. Contingent RemainderVested v. Contingent RemainderVESTEDVESTED IF:IF:•Grantee is living ascertainable person Grantee is living ascertainable person AND•Clause creating the remainder contains no condition on Clause creating the remainder contains no condition on grantee taking the property except expiration of prior grantee taking the property except expiration of prior estate.estate.

CONTINGENTCONTINGENT IF:IF:•Grantee is presently unborn or unascertainableGrantee is presently unborn or unascertainable OR•Clause creating the remainder contains an explicit Clause creating the remainder contains an explicit condition on grantee taking the property.condition on grantee taking the property.

WARM-UP/REVIEW: BasicsRemainders in …Remainders in …

““To Fred for life, To Fred for life, then to Wilma then to Wilma for lifefor life.”.” Wilma has a vested remainder Wilma has a vested remainder in life estate.in life estate.

““To Fred for life,To Fred for life, then to Wilma then to Wilma and her heirsand her heirs if Dino survives Fred. if Dino survives Fred.

Wilma has a contingent remainder Wilma has a contingent remainder in fee in fee simple absolute.simple absolute.


Common Law v. Today

• “At Common Law”: Dates prior to modern streamlining of the rules. (e.g., 1600-1800)

• “Today”: Dates after modern streamlining of the rules. (e.g., 1950-present)


Common Law v. Today

“At Common Law”• Default Estate = Life Default Estate = Life

EstateEstate• Fee Tail is AvailableFee Tail is Available

“Today”•Default Estate = Fee Default Estate = Fee SimpleSimple•Fee Tail Eliminated in All Fee Tail Eliminated in All JurisdictionsJurisdictions

PLEASE HOLD QUESTIONS UNTILWE FINISH PROBLEM 4N

Executory Executory InterestsInterests

Executory InterestExecutory Interest• Future interest in grantee.• Cuts off prior vested interest (present

estate or reversion or vested remainder) rather than waiting for it to expire naturally.

Pre-1536 (= Pre-Pre-1536 (= Pre-“Common Law”) Limitations on Future Interests in Limitations on Future Interests in

GranteesGrantees•Must follow finite estate.•Must be capable of taking effect at the expiration of

preceding estate. •Must not take effect before the expiration of the

preceding estate.

Elimination of these Rules in 1536 Allows Elimination of these Rules in 1536 Allows Creation of Executory InterestsCreation of Executory Interests

Executory InterestsExecutory InterestsShifting v. Springing Executory Interest

•No legal consequence; just categorization

•Shifting Executory Interest cuts off interest of another granteegrantee•Springing Executory Interest cuts off grantor’sgrantor’s fee simple or reversion•Physical Model/Analogy (if helpful)

Executory Interests Executory Interests

EXAMPLESEXAMPLESShifting Executory Interest: To Justin & his heirs so long as no tobacco is grown on

the land, otherwise to Erik and his heirs., otherwise to Erik and his heirs.

Executory Interests Executory Interests

EXAMPLESEXAMPLESSpringing Executory Interest:

To Chantelle if she passes the California bar exam. To Chantelle if she passes the California bar exam. Grantor who started with Fee Simple Absolute

is left with Fee Simple on Executory Limitation

(4F) Reggie “to Veronica for lifeto Veronica for life, then to Betty and her heirs if Betty then to Betty and her heirs if Betty

attains the age of 21attains the age of 21.”

Let’s Return to Problem 4F & Riverdale HighRiverdale High

(4F) Reggie “to Veronica for lifeto Veronica for life, then to Betty and her heirs if Betty attains the age of 21.”•Veronica: Life Estate•Betty: Contingent Remainder in Fee Simple •Reggie: Reversion•What if Veronica dies while Betty is still age 17? • Life Estate is Over• Betty Can’t Take; Condition Not Met• So Who Gets What?

(4F) Reggie “to Veronica for lifeto Veronica for life, then to Betty and her heirs if Betty attains the age of

21.”Veronica dies while Betty is still age 17Veronica dies while Betty is still age 17

Common Law•If contingency not met when prior estate ends, contingent remainder is destroyeddestroyed.•Betty has nothing. • If Betty isn’t ready, she loses her “table.”

•Reggie’s Reversion becomes Fee Simple Absolute

Doctrine of Destructability of Contingent Remainders (Common Law)

First Common Application

If contingency not met when prior estate ends, contingent remainder is destroyed.destroyed.

Doctrine of Destructability of Contingent Remainders

Today: Today: Overruled by statute or caselaw in every American jurisdiction except …

Doctrine of Destructability of Contingent Remainders (Today(Today)

Overruled by statute or caselaw in every American jurisdiction except …


21.”Veronica dies while Betty is still age 17Veronica dies while Betty is still age 17

Today (except FL)•If contingency not met when prior estate ends, we wait to see if it is met later.•Betty’sBetty’s remainder becomes an becomes an executory interest.executory interest.•Reggie takes possession and has fee simple on executory limitation (cut off if B turns 21)


21.”Veronica dies while Betty is still age 17

Today (except FL)

Doctrine of Destructability of Contingent Remainders (Common Law)

Second Common Application

Where there is a life estate, one or more contingent remainders, and a reversion, and the life estate and reversion merge into a fee simple, the contingent remainders are destroyed.


Second Common Application

• Jackie “to Nicole for life, then to Shadia if Shadia passes a bar exam.


Second Common Application (Common Law)• Jackie “to Nicole for life, then to Shadia if Shadia passes a bar exam.• Nicole purchases Reversion from Jackie • Life Estate & Reversion Merge Merge Fee Simple Absolute• Shadia’s Contingent Remainder is Destroyed

Today (Everywhere except Florida)Merger without Destruction

• Jackie “to Nicole for life, then to Shadia if Shadia passes a bar exam.• Nicole purchases Reversion from Jackie • Life Estate & Reversion Merge Merge Fee Simple on Executory Limitation• Shadia’s Contingent Remainder Becomes an Executory Interest

YELLOWSTONE (Problems 4J-4N)

GIANT GEYSER

YELLOWSTONE: (4J): Mary "to Rhoda for life, then to Ted if Ted gives Mary a proper funeral."

•Rhoda?


•Rhoda: Life Estate •Ted?


• Rhoda: Life Estate

•Ted: Contingent Remainder (if today: in f.s.) •Anything Else?


• Rhoda: Life Estate • Ted: Contingent Remainder (if today: in f.s.)

•Mary: Reversion

YELLOWSTONE: (4J): Mary "to Rhoda for life, then to Ted if Ted gives Rhoda a proper funeral."


•Ted? (Does Change from Mary’s Funeral to Rhoda’s Affect Nature of Ted’s Interest?)



•Ted? (Does Change from Mary’s Funeral to Rhoda’s Affect Nature of Ted’s Interest?)•HINT: What would make a funeral not “proper”?

• Rhoda: Life Estate • Ted can’t possibly give Rhoda a “proper” funeral by the time Rhoda dies. • There will be a gap in time between the end of R’s life estate

and Ted’s interest. • Thus, Ted’s interest cannot be a remainder;

• So Ted has …?


• Rhoda: Life Estate • Mary: Reversion• Ted: Springing Executory Interest (would cut off grantor’s interest: reversion)

EXAM TIP: USE COMMON SENSE!!

•Can’t give a “proper” funeral to a person until after the person has died.

EXAM TIP: USE COMMON SENSE!!

• Can’t give a “proper” funeral to a person until after the person has died.•Similarly, if an interest has been conveyed in a will, you can assume the grantor is dead (will would not have become effective until death of grantor).

Life Estates Life Estates & & Remainders:Remainders:

Additional Additional InformationInformation

ME v. TEXTBOOK (P523)

• The Textbook says the Common Law rule that a Life Estate was the default estate did not apply to grants in wills.

•For our purposes, assume that, at Common Law, a Life Estate was the default estate under all circumstances.

Alternative Contingent Alternative Contingent RemaindersRemainders

Two contingent remainders where the event that causes one to vest will destroy the

other.


Two contingent remainders where the event that causes one to vest will destroy the other. Example:

Jordan grants: “To Kevin for life, then to Katherine and her heirs if she graduates from law school, but if she never graduates from law school, then to Sofia and her heirs”.


Two contingent remainders for which the event that causes one to vest will destroy the other. Example:

To Kevin for life, then to Katherine and her heirs if she graduates from law school, but if she never graduates from law school, then to Sofia and her heirs.

Here, only two possibilities: either (1) Katherine will graduate from law school (and would then take) or (2) she will die before graduating from law school (Sofia would then take)

Alternative Contingent Alternative Contingent RemaindersRemaindersTwo contingent remainders for which the event that

causes one to vest will destroy the other. Example:

•Example: Jordan: “To Kevin for life, then to Katherine and her heirs if she graduates from law school, but if she never graduates from law school, then to Sofia and her heirs.”•Note: Even though the alternative contingent remainders might appear to exhaust all possibilities, the convention is that you still must pencil in a reversion in the grantor to fill up the time line. Thus,

– Kevin has Life Estate

– Katherine & Sofia each have an Alternate Contingent Remainder (in F.S.)

– Jordan retains a Reversion

Vested Remainder Vested Remainder Subject to DivestmentSubject to Divestment

•Vested Remainder followed by an Executory Interest that could cut it off before it becomes possessory.

•Same as what textbook calls “Vested Remainder Subject to Complete Defeasance” (P596)

Contingent Remainder (1) v. Contingent Remainder (1) v. Vested Remainder Subject to Vested Remainder Subject to

Divestment (2)Divestment (2)(1) To A for life, then to B & her heirs if she turns 21, but if B dies before 21, then to C and his heirs. Reversion in O.

(2) To A for life, then to B & her heirs, but if B dies before 21, then to C & his heirs. (No Reversion in O)

EXAM TIP: COMMON EXAM TIP: COMMON MISTAKESMISTAKES

• Contingent Remainder Subject to Open• Contingent Remainder Subject to Divestment• Executory Interest Subject to Divestment

EXAM TIP: COMMON EXAM TIP: COMMON MISTAKESMISTAKES

YELLOWSTONE (4K): “To George for life, then to Kramer and his heirs; but if Kramer does not attain the age of 21, then to Elaine and her heirs." Kramer is 15 years old.

•George ?

REDWOOD (4K): “To George for life, then to Kramer and his heirs; but if Kramer does not attain the age of 21, then to Elaine and her heirs." Kramer is 15 years old.

•George: Life Estate•Kramer?

YELLOWSTONE (4K): “To George for life, then to Kramer and his heirs; but if Kramer does not attain the age of 21, then to Elaine and her heirs." Kramer is 15 years old.

• George: Life Estate• Kramer: Vested Rem. (in f.s.) Subj. to Divestment• Vested b/c K not reaching 21 is condition on Elaine’s interest; K doesn’t

have to reach 21 to get possession• Subject to Divestment b/c K can lose interest before it becomes possessory

if he dies before 21 while G alive• Elaine?

YELLOWSTONE (4K): “To George for life, then to Kramer and his heirs; but if Kramer does not attain the age but if Kramer does not attain the age of 21, then to Elaine and her heirs." of 21, then to Elaine and her heirs." Kramer is 15 years old.

• George: Life Estate• Kramer: Vested Rem. (in f.s.) Subj. to Divestment• Elaine: Shifting Executory Interest (in f.s.)Elaine: Shifting Executory Interest (in f.s.)• Executory Interest b/c would cut off K’s Vested Rem. (or Fee if K gets possession before

turning 21)• Shifting b/c cutting off grantee’s interest• Note: If there’s a vested remainder, can’t have a second remainder following same finite

interest.

YELLOWSTONE (4K): “To George for life, then to Kramer and his heirs; but if Kramer does not attain the age but if Kramer does not attain the age of 21, then to Elaine and her heirs." of 21, then to Elaine and her heirs." Kramer is 15 years old.

• George: Life Estate• Kramer: Vested Rem. (in f.s.) Subj. to Divestment• Elaine: Shifting Executory Interest (in f.s.)Elaine: Shifting Executory Interest (in f.s.)

What if Kramer then turns 21 before George dies?What if Kramer then turns 21 before George dies?

YELLOWSTONE (4K): “To George for life, then to Kramer and his heirs; but if Kramer does not attain the age but if Kramer does not attain the age of 21, then to Elaine and her heirs." of 21, then to Elaine and her heirs." Kramer turns 21; George still alive.

•George: Life Estate•Kramer: Vested Rem. (in f.s.) Subj. to Divestment• Elaine: Shifting Executory Interest (in f.s.) Elaine: Shifting Executory Interest (in f.s.) Interest fails.Interest fails.

Alt. Contingent Remainders (1) v. Alt. Contingent Remainders (1) v. Vested Remainder Subject to Vested Remainder Subject to

Divestment (2)Divestment (2)(1) To A for life, (1) To A for life, then to B & her heirs then to B & her heirs if she if she turns 21turns 21, , but if B dies before 21, then to C but if B dies before 21, then to C and his heirs. and his heirs. Reversion in O.Reversion in O.

(2) To A for life, (2) To A for life, then to B & her heirsthen to B & her heirs,, but if B but if B dies before 21, then to C & his heirs. (No dies before 21, then to C & his heirs. (No Reversion in O)Reversion in O)

Alt.Contingent Remainders (1) v. Alt.Contingent Remainders (1) v. Vested Remainder Subject to Divestment Vested Remainder Subject to Divestment

(2)(2)(1) To A for life, then to B & heirs if she turns 21, but if B dies before 21, then to C & heirs. Reversion in O.

(2) To A for life, then to B & her heirs, but if B dies before 21, then to C & his heirs.

•Both 1+2: If A alive & B dies at 14If A alive & B dies at 14:

• B gets 0;

• C gets fee simple at A’s death

Alt. Contingent Remainders (1) v. Alt. Contingent Remainders (1) v. Vested Remainder Subject to Divestment Vested Remainder Subject to Divestment

(2)(2)(1) To A for life, then to B & heirs if she turns 21, but if B dies before 21, then to C & heirs. Reversion in O.


•Both 1+2: If A alive & B turns 21If A alive & B turns 21:

• B has vested remainder

• C’s interest fails

Contingent Remainder (1) v. Contingent Remainder (1) v. Vested Remainder Subject to Divestment Vested Remainder Subject to Divestment

(2)(2)(1) To A for life, then to B & her heirs if she turns 21, but if B dies before 21, then to C and his heirs. Reversion in O.


•(1) (1) If A dies & B not yet 21:If A dies & B not yet 21: • Conditions not met for either B or C. Remainders Conditions not met for either B or C. Remainders

either destroyed or become Springing Executory either destroyed or become Springing Executory InterestsInterests

• O takes Fee Simple [on Executory Limitation in O takes Fee Simple [on Executory Limitation in Modern View (exc. FL)]Modern View (exc. FL)]

Contingent Remainder (1) v. Contingent Remainder (1) v. Vested Remainder Subject to Divestment Vested Remainder Subject to Divestment

(2)(2)(1) To A for life, then to B & her heirs if she turns 21, but if B dies before 21, then to C and his heirs. Reversion in O.


•(2) (2) If A dies & B not yet 21If A dies & B not yet 21• No requirement that B turn 21 to take possession, so No requirement that B turn 21 to take possession, so

B does take possession and has Fee Simple on B does take possession and has Fee Simple on Executory Limitation.Executory Limitation.

• C still has Shifting Executory Interest that will become C still has Shifting Executory Interest that will become possessory if B dies before turning 21.possessory if B dies before turning 21.

Yellowstone (4L): Daffy "to Tweety for life, then to such of Tweety's children as survive him, but if none of Tweety's children survives him, then to Peggy and her heirs." Tweety has 2 children, Heckle and Jeckle.

• Tweety: ?


• Tweety: Life Estate• Tweety’s Children?


• Tweety: Life Estate

• Tweety’s Children: Contingent Remainder (in f.s.) (Must Survive Tweety)•Peggy?


• Tweety: Life Estate• Tweety’s Children: Contingent Remainder (in f.s.)

•Peggy: Alternative Contingent Remainder (in f.s.): Only 2 Possibilities:• Tweety survived by children (who take)• Tweety not survived by children (Peggy takes)


• Tweety: Life Estate• Tweety’s Children: Alternative Contingent Remainder (in f.s.)• Peggy: Alternative Contingent Remainder (in f.s.)

•Anything Else?


• Tweety: Life Estate• Tweety’s Children: Contingent Remainder (in f.s.)• Peggy: Alternative Contingent Remainder (in f.s.)

•Daffy: Reversion (even when alternate contingent remainders)

Yellowstone (4L): Daffy "to Tweety for life, then to such of Tweety's children as survive him, but if none of Tweety's children survives him, then to Peggy and her heirs."

• Tweety: Life Estate• Tweety’s Children: Alternative Contingent Remainder (in f.s.)• Peggy: Alternative Contingent Remainder (in f.s.)• Daffy: Reversion (even when alternate contingent remainders)

Yellowstone (4M): Amanda "to Billy for life, then to Billy's children and their heirs, but if at Billy's death he is not survived by any children, then to Jo and her heirs." Billy has no children.

•Billy: ?


•Billy: Life Estate•Billy’s children: ?


• Billy: Life Estate

•Billy’s children: Contingent Remainder (in f.s.) (Unborn)• Jo: ?

Alternative Contingent Alternative Contingent RemaindersRemaindersTwo contingent remainders for which the event that causes one to vest will destroy the other.


• When does contingent remainder in B’s children vest?


• Contingent remainder in B’s children vests when a child of B’s is born.• When does contingent remainder in Jo vest?


• Contingent remainder in B’s children vests when a child of B’s is born.• Contingent remainder in Jo vests when Billy dies survived by no children.• Is the interest in Jo destroyed when the interest in the children vests?


• Billy: Life Estate• Billy’s children: Contingent Remainder (in f.s.)

• Jo: Contingent Remainder (in f.s.) (Not alternate)•Anything Else?


• Billy: Life Estate• Billy’s children: Contingent Remainder (in f.s.) • Jo: Contingent rem. (in f.s.) (Not alternate)

•Amanda: Reversion


• Billy: Life Estate• Billy’s children: Contingent Rem. (in f.s.) (unborn)• Jo: Contingent Rem. (in f.s.) (Not Alternative)• Amanda: Reversion

Yellowstone (4M): Amanda "to Billy for life, then to Billy's children and their heirs, but if at Billy's death he is not survived by any children, then to Jo and her heirs." Billy has a child, Sydney.

•Billy: Life Estate• Sydney?

Yellowstone (4M): Amanda "to Billy for life, then to Billy's children and their heirs, but if at Billy's death he is not survived by any children, then to Jo and her heirs." Billy has a child, Sydney.

• Billy: Life Estate

• Sydney: Vested Remainder (in f.s.) …• Subject to Open (B can have more children) …• Subject to Divestment (interest lost if none of B’s children

survive B)• Jo?

Yellowstone (4M): Amanda "to Billy for life, then to Billy's children and their heirs, but if at Billy's death he is not survived by but if at Billy's death he is not survived by any children, then to Jo and her heirs." any children, then to Jo and her heirs." Billy has a child, Sydney.

• Billy: Life Estate• Sydney: Vested Remainder (in f.s.) Subject to Open, Subject to Divestment

• Jo: Shifting Executory Interest (in f.s.) (would cut off vested remainder)•Amanda?

Yellowstone (4M): Amanda "to Billy for life, then to Billy's children and their heirs, but if at Billy's death he is not survived by but if at Billy's death he is not survived by any children, then to Jo and her heirs." any children, then to Jo and her heirs." Billy has a child, Sydney.

• Billy: Life Estate• Sydney: Vested Remainder (in f.s.) Subject to Open, Subject to Divestment• Jo: Shifting Executory Interest (in f.s.) (would cut off vested remainder)

•Amanda: Nothing (Reversion divests when 1st contingent remainder vests)

Yellowstone (4N): Clark “to Jimmy for life, then to Lois & her heirs, but if Jimmy is survived at his death by any children, then to such surviving children & their heirs.Jimmy has two children, Perry & Della.

• Jimmy?


• Jimmy: Life Estate• Lois?


• Jimmy: Life Estate

• Lois: Vested Remainder (in f.s.) Subject to Divestment• J’s Children

Yellowstone (4N): Clark “to Jimmy for life, then to Lois & her heirs, but if Jimmy is survived at his death by any but if Jimmy is survived at his death by any children, then to such surviving children & their heirs.children, then to such surviving children & their heirs.Jimmy has two children, Perry & Della.

• Jimmy: Life Estate• Lois: Vested Remainder (in f.s.) Subject to Divestment

• J’s Children: Shifting Executory Interest (in f.s.)J’s Children: Shifting Executory Interest (in f.s.)•Clark?

Yellowstone (4N): Clark “to Jimmy for life, then to Lois & her heirs, but if Jimmy is survived at his death by any but if Jimmy is survived at his death by any children, then to such surviving children & their heirs.children, then to such surviving children & their heirs.Jimmy has two children, Perry & Della.

• Jimmy: Life Estate• Lois: Vested Remainder (in f.s.) Subject to Divestment• J’s Children: Shifting Executory Interest (in f.s.)J’s Children: Shifting Executory Interest (in f.s.)

•Clark: Nothing

GRANTS IN (4L) & (4M) & (4N) ALL TRYING TO DO SAME THINGS:

(1) To A for life, then …

(2) If A has any surviving children, they take.

(3) If no surviving children, to B.

BUT The Precise Wording of Each Grant Creates a Slightly Different Set of Interests

(4L) & (4M) & (4N)

Test Note #4Test Note #4: : Test Will Include Grants Modeled on At Least Two of These Test Will Include Grants Modeled on At Least Two of These

Problems. I’ll Ask You to:Problems. I’ll Ask You to:1.1.Identify the Interests Created; andIdentify the Interests Created; and2.2.Identify the State of the Title as Relevant Parties are Born or Identify the State of the Title as Relevant Parties are Born or Die.Die.

(4L) & (4M) & (4N)

QUESTIONS?

Remainders Remainders && Executory Executory InterestsInterests::

AdditionalAdditional Information Information

Vested Remainder Subject to Divestment (1) v.Vested Remainder Subject to Divestment (1) v.Vested Remainder in F.S. subj. to Exec. Lim. (2)Vested Remainder in F.S. subj. to Exec. Lim. (2)

(1) To A for life, then to B & her heirs, but if B dies before turning 21, then to C & his heirs.•Condition might occur before B obtains possession.

Vested Remainder Subject to Divestment (1) v.Vested Remainder Subject to Divestment (1) v.Vested Remainder in F.S. subj. to Exec. Lim. (2)Vested Remainder in F.S. subj. to Exec. Lim. (2)

(1) To A for life, then to B & her heirs, but if B dies before turning 21, then to C & but if B dies before turning 21, then to C & his heirs.his heirs.•Condition might occur before B takes possession.

(2) To A for life, then to B & her heirs, but if B ever uses the land but if B ever uses the land for commercial purposes, to C & his heirs. for commercial purposes, to C & his heirs. •Condition is a limit on B’s use of the land and cannot occur before B takes possession.

TERMINOLOGY: ME v. WORKBOOK

To A for life, then to B & her heirs, but if B dies before but if B dies before turning 21, then to C & his heirs.turning 21, then to C & his heirs.

•Condition might occur before B takes possession, but also might occur after.

•WORKBOOK (p93): Vested Remainder Subject to Divestment in Fee Simple on Executory Limitation.

•ME: Phrase in italics is accurate but unnecessary. In multiple choice answers, I will simply call this interest a Vested Remainder Subject to Divestment (as long as it might occur before possession).

CORRECTION TO WORKBOOK CORRECTION TO WORKBOOK (Problem 9-11)(Problem 9-11)

O to A for life, then to B, but if B ever but if B ever allows A to be moved into a nursing allows A to be moved into a nursing home, then to Chome, then to C•Condition must occur, if at all, while A is alive, thus before B gets possession. •Presumably (considering grantor’s likely intent), it would not violate the condition for B to allow someone to carry A’s corpse into a nursing home. (!)

CORRECTION TO WORKBOOK CORRECTION TO WORKBOOK (Problem 9-11)(Problem 9-11)

O to A for life, then to B, but if B ever allows A to be but if B ever allows A to be moved into a nursing home, then to Cmoved into a nursing home, then to C• Condition must occur, if at all, while A is alive, thus before B gets possession.

• B will eventually get either nothing or a fee simple absolute (assuming “today”)

• B has a vested remainder subject to divestment

• (in Fee Simple Absolute)

• NOT in Fee Simple on Executory Limitation

CORRECTION TO WORKBOOK (Problem 9-CORRECTION TO WORKBOOK (Problem 9-11)11)

O to A for life, then to B, but if B ever allows A to be but if B ever allows A to be moved into a nursing home, then to Cmoved into a nursing home, then to C• Condition must occur, if at all, while A is alive, thus before B gets possession.

• B will eventually get either nothing or a fee simple absolute (assuming “today”)

• B has a vested remainder subject to divestment [in FS Absolute]

QUESTIONS?

CORRECTION TO WORKBOOK (Problem 5-28)

•O to A for life, then to B, on condition that B has passed the bar.

CORRECTION TO WORKBOOK (Problem 5-28)•O to A for life, then to B, on condition that B has passed the bar.•A has Life Estate•B has a Remainder (follows life estate)• At First Looks Vested• Living Ascertainable Person

• No Condition in Clause Creating the Interest (Walk to the Punctuation & Turn Around …)

•BUT …

CORRECTION TO WORKBOOK (Problem 5-28)•O to A for life, then to B, on condition that B has passed the bar.•A has Life Estate•B has a Remainder (follows life estate)• At First Looks Vested

• BUT Condition that follows it does not create an interest in anybody else, so must attach to B’s remainder

• Comma after B unneeded & confusing.

CORRECTION TO WORKBOOK (Problem 5-28)•O to A for life, then to B, on condition that B has passed the bar.•A has Life Estate•B has a Contingent Remainder • Condition is a “Condition Precedent”

• See 5-29, which strongly suggests that interest in 5-28 is a contingent remainder.

QUESTIONS?

COMPARECOMPAREO to A for life, then to B[,] on condition that B has passed the bar.• A has Life Estate

• B has a Contingent Remainder

• O retains a Reversion

O to A for life, then to B, on condition that if on condition that if B ever fails the bar, then to C.B ever fails the bar, then to C.

• A has Life Estate

• B has a Vested Remainder Subject to Divestment

• C has a Shifting Executory InterestC has a Shifting Executory Interest

PROPERTY A SLIDES 3-17-15. Tuesday March 17 Wynton Marsalis, Trumpet Classic Wynton (1998) Detailed...

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Transcript of PROPERTY A SLIDES 3-17-15. Tuesday March 17 Wynton Marsalis, Trumpet Classic Wynton (1998) Detailed...