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What is the difference between a freehold estate and a non-freehold estate?
Freehold estate: Owner of the estate has title to or a right to hold the property
Non-freehold estate: Mere possessory interest
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Types of Freehold Estates
- Fee Simple Absolute
- Defeasible Estates
- Life Estate
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Fee Simple Absolute
Aggregate of all possible rights that a person may have in a parcel of land, including:
- - An unimpeded right to sell/convey all or part of the property
- - An unimpeded right to devise the property
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Words of purchase
Describes persons ("purchasers") taking interest under a grant or device
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Words of limitation
Describes the nature of the estate taken by purchasers
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Definition of Defeasible Estates
An estate that may terminate before the maximum duration has run
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Types of Defeasible Estates
- Fee Simple Determinable
- Fee Simple Subject to a Condition Subsequent
- Fee Simple Subject to Executory Interest
- Fee Tail
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Definition of Fee Simple Determinable
An estate that terminates automatically when a specified future event occurs
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What follows a determinable estate?
Possibility of reverter (may be implied)
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Definition of Fee Simple Subject to a Condition Subsequent
An estate that may be cut short if the estate is retaken by the grantor or a third party when a specified future event occurs
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Distinguish determinable from condition subsequent
- Condition subsequent grants a right to take the estate
- Determinable automatically terminates an estate
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Definition of Fee Simple Subject to an Executory Interest
An estate that is automatically divested in favor of a third person when a specified future event occurs
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Definition of Fee Tail
A freehold estate that descends to grantee's lineal descendants (children) only
Early Common Law
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What follows a fee tail?
- Either reversion in grantor; or
- Remainder in a third party
Future interst becomes possessory if and when the lineal line fails
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What is the modern law majority interpretation of traditional fee tail language ("to A and the heirs of his body")? What is the minority interpretation?
- Majority: grantee gets a fee simple absolute
- Minority: grantee gets a life estate, with a remainder per stirpes in the grantee's lineal descendants in being at the time of the life tenant's death
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If the language of a grant is unclear, a _______ is preferred over a ________estate because the award is money damages rather than forfeiture
Covenant; Defeasible
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If the language of a grant is unclear, a fee simple ________ is preferred over a fee simple _________ because in the former, forfeiture is not automatic
Condition subsequent; determinable
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What is a life estate pur autre vie?
A life estate which has a duration measured by a life other than that of the grantee
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Who has a duty to repair?
- Life tenant
- Tenant for term of years
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The scope of a life tenant's duty to repair is as follows:
A duty to maintain the property in a ________ state of repair, but ordinary _____________ are excepted. The duty is limited to the extent of ________, or if he personally _occupies the premises, to the extent of ___________ of the land.
- reasonable;
- wear and tear;
- income derived;
- the reasonable rental value of the land
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The scope of a tenant for term of years' duty of repair?
A duty to maintain the property in a ________ state of repair, but ordinary _____________ are excepted. The duty is not limited to the extent of ________, or ____________.
- reasonable;
- wear and tear;
- income derived;
- reasonable rent value
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What duties does a life tenant have?
- Duty to repair
- Duty to pay interest ona mortgage to the extent of profits derived from the property
- Duty to pay all ordinary taxes, to the extent of profits derived from the property
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