Fee Simple Absolute Fee Simple Fee Simple Subject to a Fee Simple Subject to Life Estate

Determinable Condition Subsequent an Executory Interest

Absolute ownership of Property Grantor retains power to Property automatically An interest that lasts
potentially infinite automatically reverts terminate grantee’s transfers to a third only for the life of the
Description duration. back to grantor upon estate party upon happening interest holder
the happening of a of given event
given event
A conveys Blackacre A conveys to B for so A to B, but if he wins the A to B, but if B is ever A to B for life
to B and his heirs; C long as he practices lottery, grantor reserves arrested, then to B
Examples conveys Whiteacre to law. the right to reenter and
B. retake
A present estate that Upon occurrence of If the event or condition Upon occurrence of Life tenant has all
does not terminate the given event or occurs, grantee still event or condition, ownership rights but
unless the owner dies condition, grantee retains title until grantor estate automatically must maintain property
intestate without heirs, automatically forfeits exercises reentry right transfers to 3rd party and make reasonable
in which case the the estate. repairs
property escheats to
the state. Duration can be
Duration can be infinite Durational can be.
infinite so long as the so long as event or Infinite so long as Reversion: future
event or condition condition does not occur event/condition does interest in grantor when
Elements does not occur. not occur life estate does not
Language must be clear provide for disposition of
Accompanying future for reentry for grantor 3rd party holds shifting property to a 3rd party
interest = possibility executory interest
of reverter Remainder: future interest
following a life estate that
identifies a 3rd party

To _ and his heirs. “for so long as” “grantor reserves the Clear durational “for life”
“while” “during” “until” right to reenter and language; words of
Trigger etc. retake” desire, hope, or
Words aspiration are
insufficient
 Indefeasibly Vested Vested Remainder Vested Remainder Subject to Condition Subject to unborn or
Remainders Subject to Total Subject to Open Precedent Unascertained Persons
Divestment
A remainder that Subject to some Remainder vested in a Remainder’s taking A remainder created in
automatically condition subsequent, described class of takers, is contingent on the favor of unborn or
Description becomes possessory such that remainderman at least one of whom is occurrence of some unascertained persons
upon termination of could be divested after capable of taking event or condition
the prior estate taking possession
possession
A to B for life, then to A to B for life, remainder A to B for life, remainder A to B for life, then A to B for life, then to
B to C; but if C weds, to D to children of C and their to C and his heirs C’s heirs
Examples
heirs when C gets
married
Cannot be subject to Cannot be subject to any Cannot be subject to any Once the event or Remainder is contingent on
any condition condition precedent condition precedent condition occurs, grantee being born or
precedent the interest ascertained.
Cannot vest in an Cannot vest in an unknown automatically
Cannot vest in an unknown or or unascertained person
becomes an
unknown or unascertained person
unascertained person
indefeasibly vested
Class stays open to allow
for future members and
remainder
closes when no new
Elements
members can be cleated
(e.g., life tenant dies)

Rule of Convenience: class

closes whenever any
member can call for
distribution of her share

Subject to
RAP?
No No Yes Yes Yes
 Joint Tenancy Mortgage
Joint tenant can take a mortgage
Lien Theory Jx on her interest without severing
(majority) joint tenancy (because no title
passes to mortgagee)
Joint tenancy is severed if any
joint tenant takes a mortgage on
Title Theory Jx.
her interest because title passes
to the mortgagee
Mortgages Pre-Foreclosure
Mortgagor has title and the right to
possession absent foreclosure
Mortgagee cannot take possession
Mortgagee has a lien, conferring a
before foreclosure
right to take action for ownership of
the land if the mortgagor defaults on
the loan
Mortgagee theoretically entitled to
Mortgagee has title to the property
possession at any time, but typically
during. Loan. Term, not mortgagor-
cannot take possession until default
borrower
by mortgage terms