Future Interests for Possessory Estates

• Requirement needs to be met
• before one gains possession... -->
• contingent remainder

• Exception: If survivorship is required solely
• because of the durational character of the estate, this is not considered a
• condition precedent

• o
• •Ex: O to A for life, then to B for life, then to
• C for life, then to D

• o
• •A: LE

• o
• •B: VR in LE

• o
• •C: VR in LE

• o
• •D: VR

• already vested and in possession but requirement
• to keep possession/title --> vested

Created when the grantor creates a LE, TFY, FT

• Automatically reverts to the grantor at the life tenant’s death, unless it is a LEPAV
• In which case, the estate reverts at the death of the measuring life.

Freely alienable

• Value of the reversion may differ b/c may or may
• not be certain to become possessory in the future

• Reversion for Life—if a life tenant transfers
• something less than a life estate pur autre vie measured by A’s life, then A
• will have a reversion for life in the estate he has transferred because he
• still owners part of the estate.

I) Created only when the grantor conveys a FSD

II) Automatically reverts to the grantor upon the occurrence of the stated event.

III) In NC/Majority… giftover language to the grantor is required or it’s a FSA

I) Created only when the grantor conveys a FSSCS and retains the power to cut short the estate.

• II) Estate does
• not revert automatically. The grantor must exercise his right of
• entry.

III) Freely alienable in a majority/NC jurisdiction

• 1. Reversion
• 2. Possibility of Reverter
• 3. ROE/POT

• remainders
• -Vested
• - indefeasible VR
• -VR subject to open
• - VR subject to defeasible
• -Contingent

• Executory Interests
• -Springing
• -Shifting