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PROPERTY Estates in land Professor Joan C. Williams Spring 2008

Review.

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PROPERTY Estates in land Professor Joan C. Williams Spring 2008

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    1. PROPERTY Estates in land Professor Joan C. Williams Spring 2008

    2. Review “To the Nature Conservancy unless and until the land is taken out of its natural state; if it is, then O or her heirs shall have the right to re-enter.”

    3. Problems 1. “O to A for life, then to B.” A has a life estate B’s future interest: A remainder or executory interest? What kind? When B gets it, what will he get? B has a vested remainder in fee Have we named all the estates? Yes: no scenario under which O gets it back

    4. Problems 2. “O to A for life, then to B for life.” A has a life estate B’s future interest: A remainder or executory interest? What kind? When B gets it, what estate will be get? B has a vested remainder in a life estate Have we named all the estates? O has a reversion

    5. Problems 3. “O to A for life, but if B graduates from law school, to B and his heirs.” A has a life estate B’s interest: A remainder or executory interest? What kind? When B gets it, what will he get? B has a shifting executory interest in fee Have we named all the estates? O has a reversion

    6. Problems 4. “O to A for life, then to B and his heirs if B reaches the age of 21.” B is two A has a life estate B’s interest A remainder or executory interest? What kind? When B gets it, what will he get? B has a contingent remainder in fee Have we named all the estates? O has a reversion

    7. Problems 5. “O to A for life, then to B one year after A’s death.” A has a life estate B’s interest A remainder or executory interest? What kind? When B gets it, what will he get? O has a reversion B has a springing executory interest in fee

    8. Problems 6. “To A for life, then to B and his heirs if B survives A.” A has a life estate B’s future interest A remainder or executory interest? What kind? When B gets it, what will he get? B has a contingent remainder in fee O has a reversion

    9. Problems 7. “To A for life, then to B and his heirs, if B becomes a concert pianist.” A has a life estate B’s future interest A remainder or executory interest? What kind? When B gets it, what will he get? B has contingent remainder in fee simple (class closes at A’s death) Have we named all of the estates? O has a reversion

    10. Problems 8. “To A for life, then to the youngest child of Sally and Jim who is alive at A’s death, and that person’s heirs.” A has a life estate B’s future interest A remainder or executory interest? What kind? When B gets it, what will he get? Youngest child – contingent remainder in fee (double contingency) Have we named all of the estates? O has a reversion

    11. Mountain Brow Lodge # 82 v. Toscano “Said property is restricted for the use and benefit of the second party, only; and in the event the same fails to be used by the second party, or in the event of sale or transfer by the second party of all or any part of said lot, the same is to revert to the first parties therein, their successors, heirs and assigns.”

    12. Mountain Brow Lodge # 82 v. Toscano “Said property is restricted for the use and benefit of the second party, only; and in the event the same fails to be used by the second party, or in the event of sale or transfer by the second party of all or any part of said lot, the same is to revert to the first parties therein, their successors, heirs and assigns.”

    13. Rule Against Perpetuities “To A so long as the land is farmed, then to B.” Before application of RAP A: fee simple on executory interest B: shifting executory interest in fee

    14. Rule Against Perpetuities Does the RAP apply? To A’s interest To B’s? B’s interest violates RAP because it might vest too remotely – more than 21 years after the deaths of both A and B. So the interest to B is invalid.

    15. Rule Against Perpetuities After application of the RAP: A: fee simple determinable O: possibility of reverter

    16. RAP in California Lucas v. Hamm (1961) Several trusts “will cease and determine at 12 noon on a day 5 years after” the probate court signed the relevant order Does this grant violate RAP?

    17. RAP in California Held: “We have concluded that…an error of the type relied on by plaintiffs does not show negligence or breach of contract on the part of the defendant.” RAP savings clause: “All trusts will terminate, and all assets will be distributed, at the expiration of all [relevant measuring lives] plus 21 years, in the event that such trusts have not expired earlier.”

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