1. Property Law Estates and Future Interests Boston College Law School
October 22, 2010
Property Law

2. Policy Issues Basic Issue Questions
To what extent should landowners be able to attach conditions to grants of property?
Questions
Why give landowners this power at all?
History
Greater power includes lesser power
Promote alienation and control
Why not give landowners unlimited power to attach conditions?
Hinders freedom of current possessors (dead hand control)
Inefficient; prevents land from moving to most efficient current use
May lead to unhealthy concentrations of wealth

3. Estates in Land Fee simple Life estate Fee tail Leasehold
Fee simple absolute
Fee simple determinable
Fee simple subject to condition subsequent
Fee simple subject to executory limitation
Life estate
Fee tail
Leasehold

4. Fee Simple Estates Fee simple absolute Fee simple determinable
“O to A and his heirs” or “O to A”
Future interest: none
Fee simple determinable
“O to A, so long as used for residential purposes”
Future interest: possibility of reverter
Fee simple subject to condition subsequent
“O to A, so long as used for residential purposes, but if not so used, O shall have a right of re-entry”
Future interest: right of re-entry
Fee simple subject to executory limitation
“O to A, so long as used for residential purposes, and then to B”
Future interest: executory interest

5. Life Estates Life estate w/ reversion Life state w/ remainder
“O to A for life”
Future interest: reversion
Life state w/ remainder
“O to A for life, then to B”
Future interest: remainder
Contingent remainder
“O to A for life, then to B if B graduates from college”
“O to A for life, then to B’s children” if B has no children yet
Vested remainder
Absolutely vested (“O to A for life, then to B”)
Vested subject to open (“O to A for life, then to B’s kids” if B has kids)
Vested subject to divestment (“O to A for life, then to B, but if B has flunked out of law school, then the property shall revert to O”)

6. Other Estates Fee tail Leasehold “O to A and the heirs of his body”
Future interest: reversion or remainder
Leasehold
“O to A for 10 years”

7. Regulation of Estates Limitations on forms of conveyances
Striking down certain conveyances
Rule against perpetuities
Rule against restraints on alienation
Rules supported by public policy
Statutory regulation
Interpreting conveyances

8. Administrative Details
Next assignments
Wed: start IV.C.2 – Limitations, through 628
Thu: finish IV.C.2 – Limitations
Fri: read V.A – Common and Joint Tenancies