PROPERTY A SLIDES 3 x 5 = 15

Thursday March 5 Music: Isaac Stern, 60 th Anniversary Celebration (1981) Thursday March 5 Music: Isaac Stern, 60 th Anniversary Celebration (1981) New York Philharmonic Orchestra; Violins: Isaac Stern, Itzhak Perlman, Pinchas Zucherman 1982 Grammy Award for Best Classical Performance (Soloists with Orchestra) Very Last Lunch Today: Meet on 11:55 Ahmed * Fellig *Powell Yellowstone Critique Due 10 a.m.

Review Problem 3D (S64-65) (Capacity) Shenandoah= Ps (A & B) Melendez, Laura Chen, Connie Steckler, Steve Halperin, Daniel Usman, Sarah Alternate: Mason, Joanne Redwood = Defendant MMS Ganase, Ketan Whitley, Dexter Corrales, Brenda Ahmed, Feras Engstrom, Dave Alternate: Fellig, Zevi

Critique of Review Problem 3D (Capacity: Biscayne) General Bottom of Assignment Sheet General Bottom of Assignment Sheet You are critiquing Capacity arguments made in class today. (as opposed to other issues in the Problem) You are critiquing Capacity arguments made in class today. (as opposed to other issues in the Problem) Plaintiff = Arguments that K lacked capacity/will is invalid Plaintiff = Arguments that K lacked capacity/will is invalid Defendant = Arguments K had capacity/will is valid Defendant = Arguments K had capacity/will is valid Written Submission Due by Sat 10 a.m. Written Submission Due by Sat 10 a.m. me if Qs me if Qs

Review Problem 3D (S64-65) (Capacity) Shenandoah= Ps (A & B) Redwood = Defendant MMS Evidence of Capacity/Incapacity Generally Evidence from Before the Day of Will Signing Ceremony & Surrounding Circumstances Evidence from the Day of the Ceremony

Review Problem 3D (S64-65) (Capacity) Shenandoah= Ps (A & B) Redwood = Defendant MMS Application of Traditional Three-Part Test a.Natural Objects of Her Bounty: Evidence/Qs Here? b.Nature/Extent of Her Property: Evidence/Qs Here? c.Nature of Disposition: Evidence/Qs Here?

Mahrenholz v. County Board Mahrenholz v. County Board

Tomorrow: ARCHES: DQ4.05 Mahrenholz Major Events DELICATE ARCHES

Violation of School Purposes Condition? Tomorrow: BISCAYNE: DQ4.11 Violation of School Purposes Condition? SUNRISE AT ADAMS KEY

Vested v. Contingent Remainders Continued

VESTED REMAINDER 1.Grantee is living ascertainable person AND 2.Clause creating the remainder contains no condition on grantee taking the property except expiration of prior estate Example: To Aaron for life, then to Oona and her heirs.

CONTINGENT REMAINDER Grantee is presently unborn or unascertainable *OR* Clause creating the remainder contains a condition on grantee taking the property Examples from Tuesday: “To Fred for life, then to Fred’s firstborn child.” Unborn If F has never had a child: Unborn “To Fred for life, then to Fred’s oldest child living at Fred’s death.” Unascertainable While F is alive: Unascertainable

REMAINDERS: EXAMPLES “To Fred for life, then to Wilma and her heirs if Dino survives Fred.” Fred has Life Estate Interest in Wilma Follows Life Estate, so it’s a Remainder Condition must be met before Wilma can take, so Remainder is Contingent.

Memory/Comprehension Aids Contingent v. Vested Remainders: Memory/Comprehension Aids Meaning/Derivation of Vested Right Clearly Established Right that’s Hard to Undo E.g., “Vested” Employee Benefits vest Derivation: Putting on Robes of Office (Investment) Analogy: Vested Remainder  Theater Ticket Contingent Remainder  Lottery Ticket

Life Estate + Vested Remainder To Fred for Life, then to Wilma and her heirs.

Life Estate + Contingent Remainder Barney “to Fred for Life, then to Wilma and her heirs if Dino survives Fred.” I’ll Show Contingency by Drawing Dotted Line, Off of the Primary Time Line, that Begins at the End of the Finite Estate

Life Estate + Contingent Remainder Barney “to Fred for Life, then to Wilma and her heirs if Dino survives Fred.” What happens to property when Fred dies if Dino doesn’t survive Fred? Someone must get it!

Life Estate + Contingent Remainder Barney “to Fred for Life, then to Wilma and her heirs if Dino survives Fred.” What happens to property when Fred dies if Dino doesn’t survive Fred? If grant doesn’t distribute some of the available rights, then those rights are retained by the grantor.

Life Estate + Contingent Remainder Barney “to Fred for Life then to Wilma and her heirs if Dino survives Fred.” Barney retains a reversion. HINT: If there’s a contingent remainder, the grantor always retains a reversion.

REMAINDERS “IN …” : “To Fred for life, then to Wilma for life.” Wilma has a vested remainder in life estate “To Fred for life, then to Wilma and her heirs if Dino survives Fred. Wilma has a contingent remainder in fee simple absolute

TERMINOLOGY: ME v. WORKBOOK Workbook: Describes all present possessory estates (Fee Simple Absolute, Life Estate, etc.) as a “Possessory Estate in …”

TERMINOLOGY: ME v. WORKBOOK Workbook: Describes all present possessory estates (Fee Simple Absolute, Life Estate, etc.) as a “Possessory Estate in …” My Test Questions: Will not use the italicized phrase.

TERMINOLOGY: ME v. WORKBOOK Workbook: Describes all present possessory estates (Fee Simple Absolute, Life Estate, etc.) as a “Possessory Estate in …” Maybe there to help you remember important rule: You can have only one present possessory estate at any given time with respect to a particular parcel of land.

TERMINOLOGY: ME v. WORKBOOK Workbook: Adds language to define nature of future interests in grantor. E.g., Reversion in Fee Simple Absolute Possibility of Reverter in Fee Simple Absolute

TERMINOLOGY: ME v. WORKBOOK Workbook: Adds language to define nature of future interests in grantor. E.g., Reversion in Fee Simple Absolute Poss. Of Reverter in Fee Simple Absolute My Test Questions: Only will add this sort of language for remainders

SHENANDOAH (Problems 4A-4E) APPALACHIAN TRAIL

Shenandoah: (4A) O conveys Baconacre "to Mayer and her heirs” Mayer's only child, Armour, runs up large bills. Can Armour's creditors reach any interest of Armour in Baconacre?

Shenandoah: (4A) O conveys B-Acre "to Mayer and her heirs” Point of 4A is meaning of “and her heirs” Clarifies that M has a Fee Simple Creates no interest in anyone else Presumptive heirs have a “mere expectancy”

Shenandoah: (4A) O conveys Baconacre "to Mayer and her heirs” Mayer wishes to sell Baconacre and use the proceeds to take a trip around the world. Can Armour prevent Mayer from doing this?

to Ernie for lifethen to Burt forever Shenandoah: (4B) Kermit “to Ernie for life, then to Burt forever.” (Common Law) Ernie?

to Ernie for lifethen to Burt forever Shenandoah: (4B) Kermit “to Ernie for life, then to Burt forever.” (Common Law) Ernie: Life Estate Burt: ?

to Ernie for lifethen to Burt forever Shenandoah: (4B) Kermit “to Ernie for life, then to Burt forever.” (Common Law) Ernie: Life Estate Burt: Vested Remainder Remainder b/c Follows Life Estate Vested b/c Burt is Named (so Living & Ascertainable Muppet) and No Condition Precedent Vested Remainder in …?

to Ernie for lifethen to Burt forever Shenandoah: (4B) Kermit “to Ernie for life, then to Burt forever.” (Common Law) Ernie: Life Estate Burt: Vested Remainder in Life Estate At Common Law To Create Fee Simple Interest, need “and his Heirs.” Without language indicating fee simple, default estate is Life Estate.

to Ernie for lifethen to Burt forever Shenandoah: (4B) Kermit “to Ernie for life, then to Burt forever.” (Common Law) Ernie: Life Estate Burt: Vested Remainder in Life Estate Who Owns the Rest (rights to property after both Ernie & Burt are dead)?

to Ernie for lifethen to Burt forever Shenandoah: (4B) Kermit “to Ernie for life, then to Burt forever.” (Common Law) Ernie: Life Estate Burt: Vested Remainder in Life Estate Kermit: Reversion (in Frog Green!) Follows finite interest if not explicitly granted to someone else State of the Title When Ernie Dies?

to Ernie for lifethen to Burt forever Shenandoah: (4B) Kermit “to Ernie for life, then to Burt forever.” (Common Law) Burt: Life Estate Kermit: (retains) Reversion When Burt Dies?

to Ernie for lifethen to Burt forever Shenandoah: (4B) Kermit “to Ernie for life, then to Burt forever.” (Common Law) Kermit (or Kermit’s Successors) have Fee Simple Absolute

to Ernie for lifethen to Burt forever Shenandoah: (4B) Kermit “to Ernie for life, then to Burt forever.” (Common Law) Ernie: Life Estate Burt: Vested Remainder in Life Estate Kermit: Reversion

to Ernie for lifethen to Burt forever Shenandoah: (4B) Kermit “to Ernie for life, then to Burt forever.” (TODAY) Ernie: Life Estate Burt: ?

to Ernie for lifethen to Burt forever Shenandoah: (4B) Kermit “to Ernie for life, then to Burt forever.” (TODAY) Ernie: Life Estate Burt: Vested Remainder in Fee Simple -Default Estate Today is Fee Simple Kermit?

to Ernie for lifethen to Burt forever Shenandoah: (4B) Kermit “to Ernie for life, then to Burt forever.” (TODAY) Ernie: Life Estate Burt: Vested Remainder in Fee Simple Kermit: Nothing (not easy being green) State of the Title When Ernie Dies?

to Ernie for lifethen to Burt forever Shenandoah: (4B) Kermit “to Ernie for life, then to Burt forever.” (TODAY) Burt: Fee Simple Absolute When Burt Dies?

to Ernie for lifethen to Burt forever Shenandoah: (4B) Kermit “to Ernie for life, then to Burt forever.” (TODAY) Burt: Fee Simple Absolute When Burt Dies? Property passes by Burt’s will or through intestacy to Burt’s heirs.

to Sylvester for life then to Bugs and his heirs Shenandoah: (4C) Elmer “to Sylvester for life, then to Bugs and his heirs.” Sylvester: ?

to Sylvester for life then to Bugs and his heirs Shenandoah: (4C) Elmer “to Sylvester for life, then to Bugs and his heirs.” Sylvester: Life Estate Bugs:?

to Sylvester for life then to Bugs and his heirs Shenandoah: (4C) Elmer “to Sylvester for life, then to Bugs and his heirs.” Sylvester: Life Estate Bugs: Vested Remainder in Fee Simple [Absolute] Bugs dies intestate without heirs. What Effect?

to Sylvester for life then to Bugs and his heirs Shenandoah: (4C) Elmer “to Sylvester for life, then to Bugs and his heirs.” Sylvester: Life Estate Bugs: Vested Remainder in Fee Simple Bugs dies intestate without heirs. Vested Remainder passes to State by Escheat (like rest of Bugs’s property) Sylvester Dies: What Effect?

to Sylvester for life then to Bugs and his heirs Shenandoah: (4C) Elmer “to Sylvester for life, then to Bugs and his heirs.” When Bugs died intestate without heirs, Vested Remainder passed to State by Escheat. When Sylvester dies, Vested Remainder becomes Fee Simple. So: State has Fee Simple Absolute

Shenandoah: (4D) Mickey “to Minnie for life, then to Pluto for 99 years.” Minnie?

to Minnie for life Shenandoah: (4D) Mickey “to Minnie for life, then to Pluto for 99 years.” Minnie: Life Estate Pluto?

then to Pluto for 99 years.” Shenandoah: (4D) Mickey “to Minnie for life, then to Pluto for 99 years.” Minnie: Life Estate Pluto: Vested Remainder in Term of Years. Anything Else?

then to Pluto for 99 years.” Shenandoah: (4D) Mickey “to Minnie for life, then to Pluto for 99 years.” Minnie: Life Estate Pluto: Vested Remainder in Term of Years. Mickey: Reversion

then to Pluto for 99 years.” Shenandoah: (4D) Mickey “to Minnie for life, then to Pluto for 99 years.” Minnie: Life Estate Pluto: Vested Remainder in Term of Years. Mickey: Reversion (eventually to his successors) Somebody has to own the rights to the property after the first two finite interests are completed. Because Mickey did not give away those rights, he must still have them at the time of the grant.

then to Pluto for 99 years.” Shenandoah: (4D) Mickey “to Minnie for life, then to Pluto for 99 years.” Minnie: Life Estate Pluto: Vested Remainder in Term of Years. Mickey: Reversion (eventually to his successors) Note we say that Mickey has a Reversion even though we are pretty certain he won’t be alive when it becomes possessory (after all, he’s a mouse). When Pluto’s interest ends, Mickey’s successors will take possession.

Shenandoah: (4E) Derek“to Bernie for life, then to Jorge for life, then to Roger and his heirs.” Bernie?

to Bernie for life Shenandoah: (4E) Derek “to Bernie for life, then to Jorge for life, then to Roger and his heirs.” Bernie: Life Estate Jorge?

to Bernie for life Shenandoah: (4E) Derek “to Bernie for life, then to Jorge for life, then to Roger and his heirs.” Bernie: Life Estate Jorge: Vested Remainder in Life Estate. Note that even though Jorge has to survive Bernie for his interest to become possessory, we don’t describe this as a Contingent Remainder because the condition is not stated explicitly. Roger?

to Bernie for life Shenandoah: (4E) Derek “to Bernie for life, then to Jorge for life, then to Roger and his heirs.” Bernie: Life Estate Jorge: Vested Remainder in Life Estate. Roger: Vested Remainder in Fee Simple.

YELLOWSTONE (Problems 4F-4G) GIANT GEYSER

Yellowstone: (4F) Reggie “to Veronica for life, then to Betty and her heirs if Betty attains the age of 21.” Betty is 15. Veronica: ?

to Veronica for life Yellowstone: (4F) Reggie “to Veronica for life, then to Betty and her heirs if Betty attains the age of 21.” Betty is 15. Veronica: Life Estate Betty?

to Veronica for life Yellowstone: (4F) Reggie “to Veronica for life, then to Betty and her heirs if Betty attains the age of 21.” Betty is 15. Veronica: Life Estate Betty: Contingent Remainder in Fee Simple (condition of turning 21 must be met before she can get property) Anything Else?

to Veronica for life Yellowstone: (4F) Reggie “to Veronica for life, then to Betty and her heirs if Betty attains the age of 21.” Betty is 15. Veronica: Life Estate Betty: Contingent Remainder in Fee Simple Reggie: Reversion Always Created Along with Contingent Remainder Covers Rights to Property After Veronica Dies if Betty’s Condition Not Met

to Veronica for life Yellowstone: (4F) Reggie “to Veronica for life, then to Betty and her heirs if Betty attains the age of 21.” Betty is 15. Veronica: Life Estate Betty: Contingent Remainder in Fee Simple Reggie: Reversion

to Veronica for life Yellowstone: (4F) Reggie “to Veronica for life, then to Betty and her heirs if Betty attains the age of 21.” Veronica: Life Estate Betty: Contingent Remainder in Fee Simple Reggie: Reversion What if Betty turns 21 while Veronica is alive?

to V for life Yellowstone: (4F) Reggie “to V for life, then to B and her heirs if B attains the age of 21.” ***B turns 21 while V alive*** Veronica: Life Estate Betty’s Contingent Remainder “vests” leaving her with a Vested Remainder in Fee Simple Reggie’s Reversion now can never become possessory, so we say it “divests,” leaving him with nothing.

to Veronica for life Yellowstone: (4F) Reggie “to Veronica for life, then to Betty and her heirs if Betty attains the age of 21.” Veronica: Life Estate Betty: Contingent Remainder in Fee Simple Reggie: Reversion What if Betty dies at age 17 while Veronica is alive?

to V for life Yellowstone: (4F) Reggie “to V for life, then to B and her heirs if B attains the age of 21.” ***B dies at 17 while V alive*** Veronica: Life Estate The condition can never be met, so Betty’s Contingent Remainder “fails” leaving her (and her successors) with nothing Reggie’s Reversion stays in place, so he or his successors will get the property when Veronica dies.

to Veronica for life Yellowstone: (4F) Reggie “to Veronica for life, then to Betty and her heirs if Betty attains the age of 21.” Veronica: Life Estate Betty: Contingent Remainder in Fee Simple Reggie: Reversion What if Veronica dies while Betty is still age 17? Life Estate is Over Betty Can’t Take, Because Condition Not Met We’ll Come Back to This After We Introduce Executory Interests

Yellowstone: (4G): “To my only son, Larry, for life, then to Larry's children and their heirs." Larry has two living children, Moe and Curly. Larry?

Yellowstone: (4G): “To my only son, Larry, for life, then to Larry's children and their heirs." Larry has two living children, Moe and Curly. Larry: Life Estate Moe & Curly?

Yellowstone: (4G): “To my only son, Larry, for life, then to Larry's children and their heirs." Larry has two living children, Moe and Curly. Larry: Life Estate Moe & Curly: Vested Remainders (in Fee Simple) Subject to Open Remainders are still vested b/c M&C certain to get at least a share of the property. Use of “subject to open” makes clear that exact share of the property they will get is uncertain; reduces if more children born. NOTE: We don’t use phrase “subject to open” with contingent remainders, which are always uncertain.

Yellowstone: (4G): “To my only son, Larry, for life, then to Larry's children and their heirs." Larry has two living children, Moe and Curly. Larry: Life Estate Moe & Curly: Vested Remainders (in Fee Simple) Subject to Open Larry has additional child, Stella. Stella has?

Yellowstone: (4G): “To my only son, Larry, for life, then to Larry's children and their heirs." Larry has 3 living children, Moe, Curly, Stella. Larry: Life Estate Moe & Curly & Stella: Vested Remainders (in Fee Simple) Subject to Open Curly (C) dies, leaving his wife, Noreen, and a child, Orrin; C's will devises all property to Noreen. What happens to C’s interest?

Yellowstone: (4G): “To my only son, Larry, for life, then to Larry's children and their heirs." Larry had 3 children, Moe, Curly, Stella. Larry: Life Estate Moe & Noreen & Stella: Vested Remainders (in Fee Simple) Subject to Open Nothing in grant requires that L’s children survive him As in Problem 4C, Vested Remainder in Fee Simple passes at death like any other property. Larry dies. State of the title?

Yellowstone: (4G): “To my only son, Larry, for life, then to Larry's children and their heirs." Larry Dies, ending Life Estate Moe & Noreen & Stella: Share Fee Simple Absolute (as Tenants-in-Common) For this course, only need to know that they’d share; don’t need to know term “tenants in common” or what it means.

DEFEASIBLE FEES Dotted Line indicates Conditional Interest Open Circle indicates that it would cut off present interest (usually at an unspecified time) as opposed to waiting for it to be complete.

DEFEASIBLE FEES: Two Relevant Distinctions 1.Automatic termination v. Needs action by future interest holder GrantorGrantee 2.Who holds future interest?: Grantor v. Grantee

DEFEASIBLE FEES: Restatement Terms Fee Simple Determinable Fee Simple on Condition Subsequent Fee Simple on Executory Limitation

DEFEASIBLE FEES: Fee Simple Determinable OPERATION: Self-Executing (Automatically Terminates Fee Simple When Condition Occurs)

DEFEASIBLE FEES: Fee Simple Determinable OPERATION: Self-Executing KEY LANGUAGE: “So long as”, “While”, “Until” (References to Time)

DEFEASIBLE FEES: Fee Simple Determinable OPERATION: Self-Executing KEY LANGUAGE: “So long as”, “While”, “Until” FUTURE INTEREST: “Possibility of Reverter” (in GRANTOR) FUTURE INTEREST: “Possibility of Reverter” (in GRANTOR)

DEFEASIBLE FEES: Fee Simple Determinable: Example To Estelle and her heirs so long as asparagus is not grown on the property.

DEFEASIBLE FEES: Fee Simple on Condition Subsequent OPERATION: Grantor (or Successor) Must Act to Terminate Fee Simple

DEFEASIBLE FEES: Fee Simple on Condition Subsequent OPERATION: Grantor Must Act KEY LANGUAGE: “ But if”, “provided that if”, “on condition that if” PLUS “O may [re]enter and [re]claim the land”

DEFEASIBLE FEES: Fee Simple on Condition Subsequent OPERATION: Grantor Must Act KEY LANGUAGE: “But if”, “provided that if”, “on condition that if” PLUS “O may [re]enter and [re]claim the land” FUTURE INTEREST: “Right of [Re]Entry” (in GRANTOR) FUTURE INTEREST: “Right of [Re]Entry” (in GRANTOR)

DEFEASIBLE FEES: Fee Simple on Condition Subsequent: Example EXAMPLE: To Estelle and her heirs, but if asparagus is grown on the property, I can reenter and claim the land