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Key language: “So long as” or “ as long as” , “while”, “during its use as a farm”, “until it is no longer used as a museum”
Fee simple determinable
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John conveys Greenacre to you as long as you use it as a museum
fee simple determinable
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AUTOMATICALLY reverts to grantor if fee simple determinable condition is not met
possibility of reverter
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John conveys Greenacre to you as long as you use it as a museum
If you don’t use it as a museum, it
goes back to John via possibility of reverter if condition not met
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If a future event occurs, then grantor has right of reentry
Fee simple Subject to Condition Subsequent
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Key language: “but if” (something occurs in the future), “Provided that”, “on the condition that”
Fee simple Subject to Condition Subsequent
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John converys Greenacre to you, but if the Jets ever win the Superbowl John gets the property back
Fee simple Subject to Condition Subsequent
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Grantor must act to get the land back
right of reentry
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Future interest held by the grantor following a fee simple subject to condition subsequent
right of reentry
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O conveys to Blackacre “to A, but if A gets a pet, O may re-enter and re-take.”
A has a ____ , O has a _____
A has a FSSCS , O has a right of re-entry
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Will end upon the happening of an event and the future interest will vest in a 3rd party (i.e. someone other than the grantor)
Fee Simple Subject to Executory Interest
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Example; O conveys to black acre “to A and her heirs, but if liquor is served on the premises, then to B and his heirs.”
A has a ____
B has a ___
A= Fee Simple Subject to Executory Interest
B has a executory interest – if liquor is ever served, B will divest A of her interest and hold a free simple
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Future interest that will cut short, or terminate, an earlier interest
The word for terminating a prior interest is to “divest”
Subject to RAP
Executory interest
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Interest must vest within 21 years of the life in being
RAP
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