2. Right to possess and use forever Right to transfer all present and future rights (inheritable/devisable) Right to liquidate assets Default estate today FEE SIMPLE ABSOLUTE

3. Right to possess and use only for lifetime of original grantee LIFE ESTATE

4. Right to possess and use only for lifetime of original grantee Right to transfer only rights for lifetime of original grantee (not inheritable/ devisable) LIFE ESTATE

5. What if a living person transfers a life estate? Opal conveys Gemacre to Ruby for life, retaining a reversion herself. Ruby then conveys her life estate to Esmeralda. What does Esmeralda have?

6. What if a living person transfers a life estate? Opal conveys Gemacre to Ruby for life, retaining a reversion herself. Ruby then conveys her life estate to Esmeralda. Esmeralda has a life estate pur autre vie (for the life of another). The duration of the interest is still measured by Ruby’s life.

7. Right to possess and use only for lifetime of original grantee Right to transfer only rights for lifetime of original grantee (not inheritable/devisable) Right only to present income; can’t liquidate capital (Doctrine of Waste) LIFE ESTATE

8. Right to possess and use only for lifetime of original grantee Right to transfer only rights for lifetime of original grantee (not inheritable/devisable) Right only to present income; can’t liquidate capital Default Estate at Common Law LIFE ESTATE

9. DEFAULT ESTATE (“To Bill.”) Common Law: Default was Life Estate Bill gets Life Estate Grantor keeps Reversion

10. DEFAULT ESTATE (“To Bill.”) Common Law: Default was Life Estate – Bill gets Life Estate – Grantor keeps Reversion Today: Default is Fee Simple –Bill gets Fee Simple Absolute –Grantor keeps nothing

11. DEFEASIBLE FEES

12. DEFEASIBLE FEES Restatement Terms FEE SIMPLE DETERMINABLE FEE SIMPLE ON CONDITION SUBSEQUENT FEE SIMPLE ON EXECUTORY LIMITATION

13. FEE SIMPLE DETERMINABLE OPERATION: Self-Executing

14. FEE SIMPLE DETERMINABLE OPERATION: Self-Executing KEY LANGUAGE: “So long as”, “While”, “Until”

15. FEE SIMPLE DETERMINABLE OPERATION: Self-Executing KEY LANGUAGE: “So long as”, “While”, “Until” FUTURE INTEREST: Possibility of Reverter (in GRANTOR)

16. FEE SIMPLE DETERMINABLE OPERATION: Self-Executing KEY LANGUAGE: “So long as”, “While”, “Until” FUTURE INTEREST: Possibility of Reverter EXAMPLE: To Estelle and her heirs so long as asparagus is not grown on the property.

18. FEE SIMPLE ON CONDITION SUBSEQUENT OPERATION: Grantor must act

19. 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”

20. 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)

21. 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 EXAMPLE: To Estelle and her heirs, but if asparagus is grown on the property, I can reenter and claim the land

23. FEE SIMPLE ON EXECUTORY LIMITATION OPERATION: Either self-executing or grantee has to act.

24. FEE SIMPLE ON EXECUTORY LIMITATION OPERATION: Either self-executing or grantee has to act. KEY LANGUAGE: Creates interest in 2d grantee if condition violated

25. FEE SIMPLE ON EXECUTORY LIMITATION OPERATION: Either self-executing or grantee has to act. KEY LANGUAGE: Creates interest in 2d grantee if condition violated FUTURE INTEREST: Executory Interest (in 2d grantee)

26. FEE SIMPLE ON EXECUTORY LIMITATION: EXAMPLES To Estelle and her heirs so long as asparagus is not grown on the property, otherwise to Bob

27. FEE SIMPLE ON EXECUTORY LIMITATION: EXAMPLES To Estelle and her heirs so long as asparagus is not grown on the property, otherwise to Bob To Estelle and her heirs, but if asparagus is grown on the property, Bob can reenter and claim the land

28. DEFEASIBLE FEES Restatement Terms FEE SIMPLE DETERMINABLE (to grantor; automatic) F.S. ON CONDITION SUBSEQUENT (to grantor; must act) F.S. ON EXECUTORY LIMITATION (any to grantee)

29. WHITE v. BROWN

30. LED ZEPPELIN Discussion Questions E1-E4

31. DQE1: The White majority states that “the free alienation of property [is] one of the most significant incidents of fee ownership.” Why is it significant?

32. DQE2:The White majority complains that “the words chosen by the testatrix are not specific enough to clearly state her intent."

33. What do you think Jessie Lide’s intent is? I wish Evelyn White to have my home to live in and not to be sold. I also leave my personal property to Sandra White Perry. My house is not to be sold.

34. Why does the majority have problems discerning Jessie Lide’s intent?

35. I wish Evelyn White to have my home to live in and not to be sold. Possible Characterizations Fee Simple Life Estate Conditional Fee –So long as not sold –So long as E lives there Conditional Life Estate

36. DQE3: WHAT ARE THE MAJORITY’S ARGUMENTS THAT MS. LIDE INTENDED TO CREATE A FEE SIMPLE?

37. MAJORITY ARGUMENTS (FEE SIMPLE) Presumption: grant conveys whole estate No gift over Partial intestacy disfavored

38. DQE3: WHAT ARE THE DISSENT’S ARGUMENTS THAT MS. LIDE INTENDED TO CREATE A LIFE ESTATE?

39. DISSENT ARGUMENTS (LIFE ESTATE) Grantor limited power to dispose Grant says “to live in” No limits in gift to niece

40. I wish Evelyn White to have my home to live in and not to be sold. I also leave my personal property to Sandra White Perry. My house is not to be sold. Whose Arguments Seem Stronger?

41. HOLDING OF WHITE v. BROWN The Property Can Be Sold!!!

42. DQE4: What additional facts might add weight to the majority opinion? To the dissent?

43. VESTED v. CONTINGENT REMAINDERS

44. FUTURE INTERESTS THAT FOLLOW FINITE ESTATES REMAINDER Future interest in a third party that follows naturally upon the termination of a finite estate. It is always expressly conveyed by the grantor.

45. VESTED REMAINDER Grantee is living ascertainable person (Presumed if granted to a named individual)

46. VESTED REMAINDER Grantee is living ascertainable person AND Clause creating the remainder contains no condition on grantee taking the property except expiration of prior estate

47. VESTED REMAINDER Grantee is living ascertainable person AND 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.

48. CONTINGENT REMAINDER Grantee is presently unborn or unascertainable *OR* Clause creating the remainder contains a condition on grantee taking the property

49. CONTINGENT REMAINDER: EXAMPLES “To Fred for life, then to Fred’s firstborn child.” Fred presently has no children. (Not born)

50. Suppose Fred has a Child…

51. CONTINGENT REMAINDER: EXAMPLES “To Fred for life, then to Fred’s firstborn child.” Fred presently has no children. “ To Fred for life, then to Fred’s oldest child living at Fred’s death.” (not ascertainable)

52. CONTINGENT REMAINDER: EXAMPLES “To Fred for life, then to Fred’s firstborn child.” Fred presently has no children. “To Fred for life, then to Fred’s oldest child living at Fred’s death.” “ To Fred for life, then to Wilma and her heirs if Dino survives Fred. (condition precedent)

54. ANALOGY Vested Remainder  Theater Ticket Contingent Remainder  Lottery Ticket

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

57. Life Estate + Contingent Remainder Barney “to Fred for Life, then to Wilma and her heirs if Dino survives Fred.”

58. Life Estate + Contingent Remainder Barney “to Fred for Life then to Wilma and her heirs if Dino survives Fred.” Barney retains a reversion.

60. 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 Wilma. Wilma has a contingent remainder in fee simple

61. PROBLEMS A-D Featuring The Supremes

62. (A): 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?

63. (A): 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?

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

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

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

67. (B): Kermit “to Ernie for life, then to Burt forever.” (Common Law)

68. Who owns the last piece?

69. (B): Kermit “to Ernie for life, then to Burt forever.” (Common Law) Kermit has a reversion (in frog green!) Ernie dies?

70. (B): Kermit “to Ernie for life, then to Burt forever.” (Common Law) Kermit has a reversion Ernie dies? Burt has life estate. Burt dies?

71. (B): Kermit “to Ernie for life, then to Burt forever.” (Common Law) Kermit has a reversion Ernie dies? Burt has life estate. Burt dies? Kermit or Kermit’s heirs have fee simple

72. (B): Kermit “to Ernie for life, then to Burt forever.” (Today) Ernie: Life Estate Burt: ?

73. (B): Kermit “to Ernie for life, then to Burt forever.” (Today) Ernie: Life Estate Burt: Vested Remainder in Fee Simple Kermit?

74. (B): Kermit “to Ernie for life, then to Burt forever.” (Today) Ernie: Life Estate Burt: Vested Remainder in Fee Simple Kermit: Nothing

75. (B): Kermit “to Ernie for life, then to Burt forever.” (Today) Ernie dies?

76. (B): Kermit “to Ernie for life, then to Burt forever.” (Today) Ernie dies? Burt takes a fee simple absolute. Burt dies?

77. (B): Kermit “to Ernie for life, then to Burt forever.” (Today) Ernie dies? Burt takes a fee simple absolute. Burt dies? Property passes by will or through intestacy.

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

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

80. (C): Elmer “to Sylvester for life, then to Bugs and his heirs.” Sylvester: Life Estate Bugs: Vested Remainder in Fee Simple

81. (C): Elmer “to Sylvester for life, then to Bugs and his heirs.” Bugs dies intestate without heirs. Impact?

82. (C): Elmer “to Sylvester for life, then to Bugs and his heirs.” Bugs dies intestate without heirs. Vested remainder passes to the state. Sylvester dies. Effect?

83. (C): Elmer “to Sylvester for life, then to Bugs and his heirs.” Bugs dies intestate without heirs. Vested remainder passes to the state. Sylvester dies. State has a fee simple absolute.

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

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

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

87. (D): Mickey “to Minnie for life, then to Pluto for 99 years.” Minnie: Life Estate Pluto: Vested Remainder in Term of Years. Mickey: Reversion (to his heirs or devisees)

88. PROBLEMS E-H Featuring The Beatles

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

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

91. (E): 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?

92. (E): 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

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

94. (F): 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?

95. (F): 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 What happens if Betty dies at 17?

96. (F): Reggie “to Veronica for life, then to Betty and her heirs if Betty attains the age of 21.” Betty is 15. What happens if Betty dies at 17? No instructions. What happens when a grantor does not fully dispose of the property in all possible scenarios?

97. (F): Reggie “to Veronica for life, then to Betty and her heirs if Betty attains the age of 21.” Betty is 15. If a grantor does not fully dispose of the property, we assume he kept the parts not mentioned for himself. Here, Reggie has a reversion. If Betty dies before turning 21, Reggie or his designees will get the property in fee simple when Veronica dies.

98. (F): Reggie “to Veronica for life, then to Betty and her heirs if Betty attains the age of 21.” What if Betty turns 21 while Veronica is alive?

99. (F): Reggie “to Veronica for life, then to Betty and her heirs if Betty attains the age of 21.” Betty turns 21. Betty’s contingent remainder “vests” leaving her with a vested remainder in fee simple. Reggie’s reversion “divests,” leaving him with nothing.

100. (6F) 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 happens if Veronica dies when Betty is 17?

101. THE “READY BETTY” JOKE

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

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

104. (G): “To my only son, Larry, for life, then to Larry's children and their heirs." Larry has two children, Moe and Curly. Larry: Life Estate Moe & Curly: Vested Remainders (in F.S.) Subject to Open Larry has another child, Stella. Stella has?

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

106. (G): “To my only son, Larry, for life, then to Larry's children and their heirs." Larry: Life Estate Moe & Noreen & Stella: Vested Remainders (in F.S.) Subject to Open Larry dies. State of the title?

107. (G): “To my only son, Larry, for life, then to Larry's children and their heirs." Larry dies. State of the title? Moe & Noreen & Stella share fee simple absolute (tenants in common).