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Author Topic: OMG I hate future interests...  (Read 1398 times)

eli250

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Re: OMG I hate future interests...
« Reply #10 on: December 05, 2006, 09:19:19 PM »
This came from my property midterm last year:

Fred Astaire conveys his farm to "to Clair Adair, the au pair, and her heirs so long as Clair Adair cares for my pair of rare mares named Flair and Blair; if Clair Adair dare not care for the rare mare pair Flair and Blair, then beware: to Astaire's heirs."


THAT is cause for future interest bitching.

Dr. Seuss the property prof. eh?  It's just a fee simple determinible though, right?

VitaminE

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Re: OMG I hate future interests...
« Reply #11 on: December 05, 2006, 09:23:04 PM »
http://www.scu.edu/law/FacWebPage/Carbone/RAP/start.htm

This website is helpful if you have a completely incompetent professor (like I do). After going through the Q&As, I FINALLY understand what a measuring life is.

rhapsody

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Re: OMG I hate future interests...
« Reply #12 on: December 05, 2006, 10:31:31 PM »
My property prof did a nice job of explaining the RAP last year. From my outline:

4 steps:
1) State the title
2) State the condition precedent (what will make interest vest?)
3) Find a tentative measuring life (person whose death resolves the contingency immediately or at least within 21 years)
   -if that person is a class, it must be closed
4) Is tentative measuring life in being at the time of grant?
   -if not, interest is void


I'm a fan of the create, kill, and count approach.  Easiest to remember!

eli250

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Re: OMG I hate future interests...
« Reply #13 on: December 05, 2006, 10:53:21 PM »
http://www.scu.edu/law/FacWebPage/Carbone/RAP/start.htm

This website is helpful if you have a completely incompetent professor (like I do). After going through the Q&As, I FINALLY understand what a measuring life is.

that was agreat review!

J D

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Re: OMG I hate future interests...
« Reply #14 on: December 05, 2006, 11:47:36 PM »
My property prof did a nice job of explaining the RAP last year. From my outline:

4 steps:
1) State the title
2) State the condition precedent (what will make interest vest?)
3) Find a tentative measuring life (person whose death resolves the contingency immediately or at least within 21 years)
   -if that person is a class, it must be closed
4) Is tentative measuring life in being at the time of grant?
   -if not, interest is void


I'm a fan of the create, kill, and count approach.  Easiest to remember!

That's the way our professor taught us.  Basically, draw the family tree as best as you can glean from the problem, start killing off all the lives in being at the time of the creation of the grant, and ask "what might happen within 21 years of the last person's death?"  I found it was pretty effective.
"I never think of the future.  It comes soon enough."--Albert Einstein

eli250

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Re: OMG I hate future interests...
« Reply #15 on: December 07, 2006, 02:37:03 PM »
I just had my property exam this morning.  About 1/3 of the test was future interests.  Glad that's over with.