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Author Topic: FUTURE INTERESTS help!  (Read 955 times)

narbzz07

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FUTURE INTERESTS help!
« on: February 19, 2007, 02:39:41 AM »
Can anyone explain to me the difference between executory interests and remainders in this problem?
Owner conveys "to A for life, then to B's heirs" (B is alive)
Looks like A has a Life Estate, followed by a contingent remainder in Fee Simple Absolute in B's heirs because the heirs are unascertained persons.
But if A dies, and B is still alive, does the Owner have a reversion in Fee Simple subject to executory limitation with B's heirs (upon B's death) having a springing executory interest in Fee Simple Absolute??? I need some clarity here..thanks! ??? 

holler21

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Re: FUTURE INTERESTS help!
« Reply #1 on: February 19, 2007, 09:20:08 AM »

But if A dies, and B is still alive, does the Owner have a reversion in Fee Simple subject to executory limitation with B's heirs (upon B's death) having a springing executory interest in Fee Simple Absolute??? I need some clarity here..thanks! ??? 

My take on this is that O has a contingent remainder in Fee Simple Absolute...period.  Since there is only one contingnet remainder in the conveyance, O has an implied contingent remainder (contingent, of course, on B's being alive).  The heirs do not have an executory interest in this problem because their potential for title would have vested, if at all, upon A's death.  Since the heirs' contingency did not come out in their favor (emphasizing that these are "metaphysical" heirs), title automatically reverts back to O in Fee Simple. 

It's been a couple of months since I did these, so don't take this as gospel, but I'm pretty confident this is how the conveyance would turn out.

Felsen

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Re: FUTURE INTERESTS help!
« Reply #2 on: February 19, 2007, 09:39:03 PM »
A has a life estate.
B has no heirs, as one cannot have heirs while still living and this is a conveyance.
-If it were a will it would be a different matter.
-If B were dead, it would be a different matter as B would have heirs.
O has a reversion, since the only estate he bestowed on another is a life estate.  You rule out the possiblity of reverter and right of entry because they require a fee simple determinable or a fee simple on a condition subsequent. The only possibility left is the reversion.

sehrwunderbar

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Re: FUTURE INTERESTS help!
« Reply #3 on: February 21, 2007, 10:12:06 PM »
Yes, the answer to that question is that B's heirs are non-existent, and if B is dead then B's heirs get nothing because they would not vest in the proper amount of time.

correguachin

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Re: FUTURE INTERESTS help!
« Reply #4 on: February 22, 2007, 12:01:41 AM »
Are we pre-1535 or post-1535?

It is frightening that I actually know what you are talking about.

Sooooo, animals can sense evil...

Felsen

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Re: FUTURE INTERESTS help!
« Reply #5 on: February 24, 2007, 01:30:00 AM »
If B were dead, there wouldn't be a perpetutities problem, as there is only a preceding life estate of someone who is currently living.  The living person for the life estate counts as a measuring lifetime.


cwc

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Re: FUTURE INTERESTS help!
« Reply #6 on: February 24, 2007, 11:44:39 AM »
The OP has the correct answer to the question. 

Since A has died before B (thus, B can't have heirs yet), there is no one to pass the estate to, so O has a reversion in FSA.  There is no perpetuities issue because B is a life in being at the time of the conveyance.   

B's heirs HAD a contingent remainder.  Some jurisdictions would destroy this contingent remainder once the estate reverts to O.  In jurisdictions that do not destroy contingent remainders, this would resurface as a springing executory interest in B's heirs once they are ascertained.

narbzz07

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Re: FUTURE INTERESTS help!
« Reply #7 on: February 25, 2007, 04:35:04 AM »
thank you , we haven't done Rule Against Perps yet, so I am trying to enjoy future interests for now haha