Study Question 51

1
Study Question 5-1

• If the future interest following a life estate is
  in the grantee, what is it called?
• remainder

2
Study Question 5-2

• If the future interest following a term of years
  is in the grantee, what is it called?
• remainder

3
Study Question 5-3

• If the future interest following a fee tail is in
  the grantee, what is it called?
• remainder

4
Study Question 5-4

• What is the name of the grantees future interest
  that waits patiently for the prior estate to
  end naturally?
• remainder

5
Study Question 5-5

• How can you recognize a contingent remainder?
• Its holder is unascertained or it contains a
  condition precedent or both.

6
Study Question 5-6

• What two characteristics define a vested
  remainder?
• Its holder is ascertained it has no condition
  precedent.

7
Study Question 5-7

• What two characteristics define an ascertained
  person?
• The person is born and identified.

8
Study Question 5-8

• What is a condition precedent?
• A condition that (1) is set out within the
  description of a particular estate, and (2) must
  be satisfied before that estate can become
  possessory.

9
Study Question 5-9

• What are Alternative contingent remainders?
• Contingent remainders (1) each follow the same
  estate and (2) have conditions precedent that are
  the opposite of each other, so that the vesting
  of one precludes the vesting of the other.

10
Study Question 5-10

• Is a reversion deemed vested or contingent?
• vested

11
Study Question 5-11

• Is a right of entry deemed vested or contingent?
• vested

12
Study Question 5-12

• Is a possibility of reverter deemed vested or
  contingent?
• vested

13
Study Question 5-13

• To whom does a reversion belong?
• The grantor

14
Study Question 5-14

• To whom does a remainder belong?
• A grantee

15
Study Question 5-15

• Distinguish between a remainder and a reversion.
• Both are future interests created in the same
  instrument as an inherently limited estate and
  following that estate. A reversion is retained
  by the grantor, and a remainder is given to a
  grantee.

16
Study Question 5-16

• In column 2 on the chart, how do we decide
  whether to work above the line or below the line?
• Determine whether the next estate is in the
  grantor or a grantee. If it is in the grantor,
  work above the line. If it is in the grantee,
  work below the line.

17
Study Question 5-17

• In column 3 on the chart, how do we decide
  whether to work above the line or below the line?
• Determine whether the estate is in the grantor or
  a grantee. If it is in the grantor, work above
  the line. If it is in the grantee, work below
  the line.

18
Study Question 5-18

• Identify the words creating the remainder and
  state whether the holder is ascertained
• O to A for life, then to B.
• then to B
• yes

19
Study Question 5-19

• Identify the words creating the remainder and
  state whether the holder is ascertained
• O to A for life, then to As first child. (A
  has one child, B.)
• then to As first child
• yes

20
Study Question 5-20

• Identify the words creating the remainder and
  state whether the holder is ascertained
• O to A for life, then to As heirs. (A is
  alive has one child, B.)
• then to As heirs
• no

21
Study Question 5-21

• Identify the words creating the remainder and
  state whether the holder is ascertained
• O to A for life, then to B her heirs. (B has
  no children.)
• then to B her heirs
• yes

22
Study Question 5-22

• Identify the words creating the remainder and
  state whether the holder is ascertained
• O to A for life, then to As widow.
• then to As widow
• no

23
Study Question 5-23

• Identify the words creating the remainder and
  state whether the holder is ascertained
• O to A for life, then to As first child. (A
  has no children.)
• then to As first child
• no

24
Study Question 5-24

• Identify the words creating the remainder and
  state whether the holder is ascertained
• O to A for life, then to this years 1st-year
  law students at State University Law School who
  pass the bar.
• then to this years 1st-year law students at
  State University Law School who pass the bar
• no

25
Study Question 5-25

• Identify the words creating the remainder, and
  state whether it is subject to a condition
  precedent
• O to A for life, then to B if B has refrained
  from drinking alcoholic beverages for the 5 years
  prior to As death.
• then to B if B has refrained from drinking
  alcoholic beverages for the 5 years prior to As
  death
• yes

26
Study Question 5-26

• Identify the words creating the remainder, and
  state whether it is subject to a condition
  precedent
• O to A for life, then to B if B has reached 21.
  (At the time of the conveyance, B is 22.)
• then to B if B has reached 21
• no

27
Study Question 5-27

• Identify the words creating the remainder, and
  state whether it is subject to a condition
  precedent
• O to A for life, then to B however, if B ever
  drills for oil on the land, then to C.
• then to B
• no

28
Study Question 5-28

• Identify the words creating the remainder, and
  state whether it is subject to a condition
  precedent
• O to A for life, then to B, on condition that B
  has passed the bar.
• then to B
• no

29
Study Question 5-29

• Identify the words creating the remainder, and
  state whether it is vested or contingent.
• O to A for life, then to B, on condition that B
  has passed the bar. (B has been practicing law
  for 10 years.)
• then to B
• vested

30
Study Question 5-30

• Identify the words creating the remainder, and
  state whether it is vested or contingent.
• O to A for life, then to B, but if B uses the
  land for an insurance agency, then back to O.
• then to B
• vested

31
Study Question 5-31

• Identify the words creating the remainder, and
  state whether it is vested or contingent.
• O to A for life, then to B if B does not then
  own an insurance agency.
• then to B if B does not then own an insurance
  agency
• contingent

32
Study Question 5-32

• Identify the words creating the remainder, and
  state whether it is vested or contingent.
• O to A for life, then to B if B is then
  married.
• then to B if B is then married
• Contingent

33
Study Question 5-33

• Identify the words creating the remainder, and
  state whether it is vested or contingent.
• O to A for life, then to B however, if B
  divorces after A dies, then to O.
• then to B
• vested

34
Study Question 5-34

• Identify the words creating the remainder, and
  state whether it is vested or contingent.
• O to A for life, then to As surviving cousins.
  (A has two cousins.)
• then to As surviving cousins
• contingent

35
Study Question 5-35

• Identify the words creating the remainder, and
  state whether it is vested or contingent.
• O to A for life, then to As children. (A has
  one child.)
• then to As children
• vested

36
Study Question 5-36

• Identify the words creating the remainder, and
  state whether it is vested or contingent.
• O to A for life, then to the 2001 graduates of
  Os law school class. (The conveyance was made
  in 2002.)
• then to the 2001 graduates of Os law school
  class
• vested

37
Study Question 5-37

• Identify the words creating the remainder, and
  state whether it is vested or contingent.
• O to A for life, then to As widow.
• then to As widow
• contingent

38
Study Question 5-38

• Identify the words creating the remainder, and
  state whether it is vested or contingent.
• O to A for life, then to Bs heirs. (B is
  alive.)
• then to Bs heirs
• contingent

39
Study Question 5-39

• Do As heirs have any property interest as a
  result of this conveyance? If so, what is it?
• O to A for life, then to As heirs.
• Contingent remainder

40
Study Question 5-40

• Do As heirs have any property interest as a
  result of this conveyance? If so, what is it?
• O to A and her heirs.
• no

41
Study Question 5-41

• What is the state of the title?
• O to A for life, then to B.
• A possessory estate in life estate
• B vested remainder in fee simple absolute

42
Study Question 5-42

• What is the state of the title?
• O to A for life, then to O.
• A possessory estate in life estate
• O reversion in fee simple absolute

43
Study Question 5-43

• What is the state of the title?
• O to A and her heirs until B reaches 25. (B is
  12.)
• A possessory estate in fee simple determinable
• O possibility of reverter in fee simple absolute

44
Study Question 5-44

• What is the state of the title?
• O to A and her heirs, but if A divorces, then to
  O.
• A possessory estate in fee simple subject to a
  condition subsequent
• O right of entry in fee simple absolute

45
Study Question 5-45

• What is the state of the title?
• O to A and her heirs so long as A never uses
  illegal drugs.
• A possessory estate in fee simple determinable
• O possibility of reverter in fee simple absolute

46
Study Question 5-46

• What is the state of the title?
• O to A and her heirs, but if B reaches 25, then
  to O. (B is 15.)
• A possessory estate in fee simple subject to a
  condition subsequent
• O right of entry in fee simple absolute

47
Study Question 5-47

• What is the state of the title?
• O to A for life, but if an Interstate highway is
  built within 1 mile of the property, then to O.
• A possessory estate in life estate subject to a
  condition subsequent
• O reversion in fee simple absolute

48
Study Question 5-48

• What is the state of the title?
• O to A for life or until A divorces, then to O.
• A possessory estate in life estate determinable
• O reversion in fee simple absolute

49
Study Question 5-49

• In which of these 2 conveyances is Bs remainder
  vested in which is it contingent?
• O to A for life, then to B, but if B has not
  graduated from college, then to C.
• O to A for life, then to B if B has graduated
  from college, but if not, then to C.
• The 1st is vested the 2nd is contingent

50
Study Question 5-50

• Has O retained an interest?
• O to A for life, then to B on condition that B
  has passed the bar.
• yes

51
Study Question 5-51

• Has O retained an interest?
• O to A for life, then to B.
• no

52
Study Question 5-52

• Has O retained an interest?
• O to A for life, then to B if B does not then
  own an insurance agency.
• yes

53
Study Question 5-53

• Has O retained an interest?
• O to A for life, then to B if B has married. (B
  is presently married.)
• No

54
Study Question 5-54

• Has O retained an interest?
• O to A for life, then to B however, if B
  divorces, Bs estate ends.
• yes

55
Study Question 5-55

• Has O retained an interest?
• O to A for life, then to As surviving cousins.
  (A has two cousins.)
• yes

56
Study Question 5-56

• Has O retained an interest?
• O to A for 10 years, then to B for 10 years.
• yes

57
Study Question 5-57

• Has O retained an interest?
• O to A and the heirs of her body, then to B.
• no

58
Study Question 5-58

• At the end of this series of events, is the
  remainder vested or contingent?
• O to A for life, then to Bs oldest child who
  survives B. Then B dies with 2 children living.
• vested

59
Study Question 5-59

• At the end of this series of events, is the
  remainder vested or contingent?
• O to A for life, then to As oldest surviving
  child who has attained the age of 21. Then As
  oldest child attains the age of 21.
• contingent

60
Study Question 5-60

• At the end of this series of events, is the
  remainder vested or contingent?
• O to A for life, then to B if B marries. Then
  B gets married. Subsequently, B divorces.
• vested

61
Study Question 5-61

• At the end of this series of events, is the
  remainder vested or contingent?
• O to A for life, then if B has died childless,
  to whoever is the Dean of State University Law
  School at the time of As death. Then B dies
  childless.
• contingent