Property

Fee simple determinable <-> possibility of reverter

Fee simple subject to condition subsequent <-> right of entry

Fee simple subject to an executory interest <-> executory interest

Affirmative waste: exploitation of natural resources limited to 1) necessary for repair or maintenance, 2) land is suitable only for such use, 3) expressly or impliedly permitted by grantor, 4) open mines doctrine (only for life estates)

Permissive waste: failure to protect or preserve the land as to 1) land and structures in a reasonable state of repair, 2) pay interest on mortgages, 3) pay ordinary taxes on land, 4) pay special assessments for public improvement of short duration.

• Ameliorative waste: change that benefits the property economically
• -can alter if: FMV not diminished AND EITHER remaindermen do not object OR a substantial change in neighborhood conditions has deprive the proeprty in its current form of reasonable productivity or usefulness.

Possibility of reverter: follows fee simple determinable

Right of entry: follows fee simple subject to condition subsequent

Reversion: if goes back to the grantor on the natural end of a previous estate

Remainder: future interest in a third person that can become possessory on the n atural expiration of the preceding estate.

Indefeasibily vested remainder: remainder created in existing and ascertained person AND NOT subject to a condition precedent

Vested remainder subject to open: vested reaminder in a class of persons that is certain to become possessory, but subject to diminution by birth of additional people in the class.

Vested remainder subject to total divestment: vested remainder subject to a condition subsequent (comma rule)

• Contingent remainder: remainder created in 1) unborn or unascertained persons OR 2) subject to a condition precedent
• -"alternative contingent remainders" if split between two people

Traditional rule that if a contingent remainder had not vested by the end of the preceding freehold estate then the contingent remainder was destroyed

Abolished in most states

Related doctrine of merger: When one person acquires all the present and future interests in land before a contingent remainder then the contingent remainder is destroyed.

Destructibility of contingent remainders

Rule of Shelley's case

Doctrine of worthier title

If an instrument creates a life estate in A and then remainder to A's heirs then the remainder in A's heirs was not recognized.

Example: to A for life, then to B for life, then to A's heirs. B has a vested remainder.

This is abolished in most states.

A remainder in grantor's heirs becomes a reversion in the Grantor

This is a rule of construction and generally not abolished if grantor has clearly manifested intent.

Future interest in third parties that either divest a transferee's preceeding freehold estate (shifting) or follow a gap in possession or cut short a grantor's estate (springing)

• Rule of convenience: A class closes when some of the members in the class can call for distribution of their share of the class gift.
• -Watch for "all of A's children that survive me"

Survival is usually not necessary for issue of surviving childern to still take.

Executory interest following a defeasible fee: "so long as X happens" where X could last indefinitely

Age contingency beyond age 21 in open class

Fertile Octogenarian: woman capable of bearing children regardless of age. Usually defeats grandchildren's future interest

• Options and rights of first refusal: other than options to purchase by current lessee
• Unborn widow or widower: widow may not be a live in being as could marry later.

• disabling: attempted transfers are ineffective
• forfeiture: attempted transfers forfeit the interest
• promissory: attmepted transfer breaches a covenant

Allowed if 1) limited time and 2) reasonable purpose

• Other valid restraints:
• 1) forfeiture restraint on transferability of future interest
• 2) reasonable restrictions on commercial transactions
• 3) rights of first refusal
• 4) restrictions on assignment and sublease of leaseholds

• Created upon four unities of:
• 1) time, 2) title, 3) same interest, 4) possession

• Sever through
• 1) intervivos conveyance: judgment liens do not foreclose UNLESS foreclosed upon.
• 2) contract to convey: courts split on whether executory contract splits or need to actually pass title.
• 3) partition: voluntary agreement, partition in kind, forced sale

Terms of years

Periodic tenancies

Tenancies at will

Tenancies at sufferance

1) may evict

• 2) bind to new periodic tenancy
• -For non-residential usually held to year to year if term more than a year
• -For residential usually held for month to month
• -Have a rent increase if tenant on notice there will be one

Duty to deliver possession of the premises

Quiet enjoyment

Implied warranty of habitability

Retaliatory eviction

Implied covenant that neither the landlord nor a paramount titleholder will interfere with the tenant's quiet enjoyment and possession AFTER LEASE HOLD STARTED.

• Constructive eviction

• Landlord's breach of the covenant of quiet enjoyment by:
• 1) rendering the premises uninhabitable
• 2) landlord was notified and failed to remedy within a reasonable time
• 3) tenant must vacate

This is a nonwaivable implied warranty for residential leases.

• Remedies:
• 1) terminate the lease
• 2) make repairs and offset by cost of future rent
• 3) abate rent by the value of defects
• 4) remain in possession and sue for damages.