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Term
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Definition
Future Estate--None
Language Creating--
to "A and his heirs"
to "A, his heirs and assigns"
to "A"
Duration--Unlimited
Transferability--
Deed
Will
Intestacy
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Term
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Definition
Fee Simple Determinable
Fee Simple Subject to Condition Subsequent
Fee Simple Subject to Executory Limitation
Fee Simple Conditional (SC)
Life Estates
Life Estate per autre vie
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Term
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Definition
Fee Simple that has a condition. If that condition is breached the property AUTOMATICALLY reverts back to the grantor
Future Interest--Possibility of Reverter
Language Creating--
"so long as"
"until"
"during the time that"
Duration--Potentially infinite as long as the "event" does not occur
Transferability--Deed, will, or intestancy |
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Term
| Fee Simple Subject to Condition Subsequent |
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Definition
A fee simple with a condition that, if breached, the owner has the right to take possession, but does NOT AUTOMATICALLY get it.
If it is unclear if the interest in the grantor is "possibility of reverter" or "right of entry" the court assumes "right of entry."
You can't adversely possess against a right of entry unless the holder has attempted to exert it
There can be a time limit on the right of entry
Future interest--Right of Entry
Duration--Potentially infinite as long as the event does not occur, and afterward as long as the holder of the right of entry does not exercise the power of termination
Transferrabilty--By deed, will, or intestancy |
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Term
| Fee Simple Subject to an Executory Limitation |
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Definition
A condition on ownership, where if breached, the property goes to a third party rather than the original grantor.
Future Interest--Executory Interest
Duration--Potentially infinite, so long as the "event" does not occur.
Transferability--By deed, will, or intestacy |
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