Seperac OutlineMBENYReal Property.docx
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Seperac OutlineMBENYReal Property.docx
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SeperacOutlineMBENYRealProperty
RealProperty(27MBEQs)
I.EstatesinLand(8%ofQs=2of27MBEQs)(July2015EssayPriority=HIGH)
Estatesinlandareinterestsinlandthatarepresentlypossessoryormaybecomepossessoryinthefuture.
A.PresentEstates
-Devisable:
passbywill
Descendible:
passbythestatutesofintestacy(withoutawill)
Alienable:
transferableintervivos(duringholderslifetime)
Defeasible:
capableofbeingannulledoravoided
Estate
Languagetocreate
Duration
Transferability
FutureInterest
(Grantor)
FutureInterest
(3rdParty)
FeeSimpleAbsolute
“toA”OR
“toA&hisheirs”
Infinite
DDA(Devisable,DescendibleandAlienable)
NONE
NONE
FeeTail
“toAandtheheirsofhisbody”
Lastsaslongaslinealblooddescendants
Automaticallytolinealdescendants
Reversion
Remainder
FeeSimpleDeterminable
“toAsolongas”/“toAduring”
“toAwhile”/“toAuntil”
Aslongas
conditionmet
DDAbut
subjecttothecondition
PossibilityofReverter
-
FeeSimpleSubjecttoConditionSubsequent
“toA,butifXeventhappens,granterreservesthatrighttore-enterandretake”
Untilhappeningof
Xevent&
reentrybygrantor
Sameasabove
RightofEntry
-
FeeSimpleSubjecttoExecutoryLimitation
“toA,butifXeventoccurs,thentoB”
Aslongas
conditionmet
Sameasabove
-
ExecutoryInterest
LifeEstate
(maybedefeasible)
“toA,forlife”OR,
“toAforthelifeofB”
Untiltheendofthemeasuringlife
DDA
Ifmeasuringlifestillalive
Reversion
NONE
“toAforlife,thentoB”
-
Remainder
“toAforlife,butifXeventhappens,toB”
UntiltheendofthemeasuringlifeOR
untilhappeningofnamedevent
Reversion
ExecutoryInterest
1.FeeSimpleAbsolute
a.AlivingpersonhasNOheirs(onlyprospectiveheirs,butfreelyalienableintervivosanddevisable).
2.FeeTail
a.Previously:
passdirectlytolinealblooddescendants
b.ModernRule:
–createsfeesimpleabsolute(becauseabolishedinUS&NY)
3.DefeasibleFees
a.Feesimpleestates(i.e.,ofuncertainorpotentiallyinfiniteduration)thatcanbeterminateduponthehappeningofastatedevent
b.Importantrulesofconstruction:
(i)Needdurationlanguage–wordsofmeredesire,hope,orintentionareinsufficient
HYPOS:
Ineachoftheseinstances,Aisvestedwithafeesimpleabsolute,andNOTadefeasiblefee:
“ToAforthepurposeofconstructingadaycarecenter”;“ToAwiththehopethathebecomesalawyer”;“ToAwiththeexpectationthatthepremiseswillbeusedasaBlockbustervideostore.”
(ii)Absoluterestraintsonalienationarevoid–restraintneedtobereasonable,timelimitedpurpose
HYPO:
Absoluterestraintonalienation(thusvoid):
Oconveys:
“ToAsolongassheneverattemptstosell.”Ahas:
FeeSimpleAbsoluteOhas:
Nothing
COUNTER-HYPO:
Oconveys:
“ToAsolongasshedoesnotattempttoselluntiltheyear2008,whencloudsonthetitlewillberesolved.”(Note:
Heretherestraintislinkedtoareasonable,time-limitedpurpose.)Ahas:
FeeSimpleDeterminableOhas:
PossibilityofReverter
-Restraintsprohibitingthetransferoruseofpropertytoorbyapersonofaspecifiedracial,religious,orethnicgrouparenotenforceable
c.Types
(i)FeeSimpleDeterminable(InNY,itiscalledaFeeonLimitation)–automaticreverter
(a)Mustusecleardurationallanguage(e.g.“ToAsolongas,during,while,until”)
(b)IFConditionviolated–forfeitureautomatic,&there’sapossibilityofreverterinthegrantor
(c)RAPnotapplicable.
FrankSinatraconveysSinatraPalace“toOrvilleRedenbacher,solongaspopcornisnevermadeonthepremises.”Classifytheinterests.Orvillehas:
FeeSimpleDeterminable-Frankhas:
PossibilityofReverter.
FSDPOR–FeeSimpleDeterminablePossibilityofReverter–FrankSinatraDoesn’tPreferOrvilleReden.
(d)AmbiguousLanguage–conveyancethatcontainsbothdurationallanguageandapowerofterminationisconstruedascreatingafeesimplesubjecttoaconditionsubsequent
(ii)FeeSimpleSubjecttoConditionSubsequent(NY–FeeonCondition)–optionalreentry
(a)MustusecleardurationallanguageANDmustcarveouttherighttore-enter(NY–rightofreacquisition)
(b)Conditionviolate–granterreservestherighttoreentry
(c)ThisestateisNOTautomaticallyterminated,butitcanbecutshortatthegrantor’soption,ifthestatedconditionoccurs.
(d)RuleAgainstPerpetuities(RAP)notapplicable:
Rossconveys“ToRachel,butifcoffeeiseverconsumedonthepremisesgrantorreservestherighttore-enterandre-take.”Rachelhas:
FeeSimpleSubjecttoConditionSubsequent….Rosshas:
RightofEntry(PowerofTermination).
BobbyBrown:
It’smyprerogativeastowhethertochoosetoterminateornot.
(iii)FeeSimpleSubjecttoExecutoryLimitation–automaticexecutiveinterest
(a)Mustusecleardurationallanguage(e.g.solongas,during,while,until)
(b)Conditionviolated–forfeitureautomatic,thenpassesto3rdparty(shiftingexecutoryinterest)
(c)RAPapplies
HYPO:
ToBarryManilow,butifManiloweverperformsmusiconthepremises,thentoMandy.Barryhas:
FeeSimplesubjecttoMandy’sshiftingexecutoryinterest.-Mandyhas:
ShiftingExecutoryInterest
4.LifeEstate
a.Creation–mustbemeasuredinexplicitlifetimeterms(nevermeasuredintermsofyears:
NOTanestateofinheritance)
(i)LifeEstatePurAutreVie-measuredbythelifeotherthanthegrantee’s(toAforthelifeofB)
Oconveys:
“ToMadonna,forthelifeofDavidLetterman.”Madonnahas:
LifeEstatepurautrevie.Ohas:
reversion.AttheendofDavidLetterman’slife,theestaterevertsbacktoOorO’sheirs.
(ii)Alienable,devisable&descendibleifmeasuringlifeisstillalive
(iii)NOTE:
althoughalifeestateisusuallyindefeasible,canmakealifeestate
(a)determinable(“toAforlifesolongasalcoholisn’tusedonthepremises”),
(b)subjecttoaconditionsubsequent(“toAforlife,butifAisdivorced,grantorreservesrighttoreenter”),or
(c)subjecttoanexecutoryinterest(“toAforlife,butifAisdivorced,toB”)
b.DistinguishingCharacteristics
(i)Entitledtoallordinaryuses&profitsfromtheland
(ii)Mustnotcommitwaste(anythingthatwillharmthefutureinterestholders)–3kindsofwaste(forwhichafutureinterestholdermaysuefordamagesorinjunction):
(a)Voluntary/affirmativewaste–actual,overtconductcausingdecreaseinvalue;cannotconsumeorexploitnaturalresourcesonproperty(e.g.timber,oil,orminerals),EXCEPTforP-U-R-G-E
-PriorUse:
priortothegrant,landwasusedforexploitation(butnorighttoopennewmine)
-Reasonablerepairs:
lifetenantmayconsumenaturalresourcesforreasonablerepairs&maintenanceofthepremises.
-Grant:
lifetenantexpresslygrantedrighttoit.
-Exploitation:
thelandissuitableonlyforexploitation(e.g.,thelandisaquarry)
(b)Permissivewaste/neglect–landisallowedtofallintodisrepair,orthelifetenantfailstoreasonablyprotecttheland
-PropertyLawsaysLifetenantmustsimplymaintainthepremisesinreasonablygoodrepair
-Lifetenantmustpayallcarryingcharges(e.g.,mortgageinterest,propertytaxes,specialassessments)totheextentofthevalueofrents&profits.Ifnoincomeorprofits,mustpaycarryingchargesuptothefairrentalvalueofthepremises.
-AfutureinterestholderwhoexpendsfundsinsatisfactionoftheLifetenant'sobligations(e.g.,paystorepairholeinroof)isentitledtoreimbursement
(c)Ameliorativewaste–Moderncourtsnowusuallyhold(NOTE:
Changefromcommonlaw)thatalifetenantMAYengageinactsthatwillenhanceproperty’svalue,
-Allremaindermenagreetotheameliorativeuse,OR
-Asubstantial&permanentchangeintheneighborhoodconditionsmakethechangereasonable
-Showingmaliceintheallegedlyameliorativeactsmaycauseliability
B.FutureInterests
1.FutureInterestsinTransferor(O)
a.Possibilityofreverter–accompaniesonlythefeesimpledeterminable(rememberFSD/POR)
b.Rightofentry/poweroftermination–accompaniesonlythefeesimplesubjecttoconditionsubsequent.”It’smyprerogative.”
c.Reversion–futureinterestthatarisesinagrantorwhotransfersanestateoflesserquantumthanhestartedwith(feetailORlifeestate);reversionaryinterestsarevested&NOTsubjecttoRAP
HYPOS
(2):
O,theholderofafeesimpleabsolute,conveys:
“ToAforlife.”Ohasconveyedlessthanwhatshestartedwith.Shehasareversion.“ToAfor99years.”Ohasconveyedlessthanwhatshestartedwith.Shehasareversion…………“ToAforlife,thentoBfor99years.”Ohasstillconveyedlessthanwhatshestartedwith.(Rememberthatthefeesimpleabsolutecanendureforever.)Ohasareversion.
2.FutureInterestsinTransferees
a.Remainders(contingent&vested)afutureinterestcreatedinagranteethatbecomespossessoryupontheexpirationofapriorpossessoryestate(createdinsameconveyanceinwhichtheremainderiscreated)
Remember:
aremainderman(ForrestGump)issociable,patientandpolite:
(1)Remaindermanissociable.Henevertravelsalone.Inotherwords,remaindermanalwaysaccompaniesaprecedingestateofknownfixedduration.Thatprecedingestateisusuallyalifeestateoratermofyears.Forexample:
“ToAforlife,thentoB,”or“ToAfortenyears,thentoB.”(2,3)Remaindermanispatientandpolite,meaning:
Remaindermanneverfollowsadefeasiblefee.Remaindermanwaitspatientlyfortheprecedingestatetorunitscourse.Remaindermancannotcutshortordivestapriortransferee.Inotherwords,ifyourpresentestateisadefeasiblefee,yourfutureinterestisNOTaremainder.Instead,itwillbeanexecutoryinterest.
(i)A
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