class xvii estates review l.
Download
Skip this Video
Loading SlideShow in 5 Seconds..
Class XVII – Estates Review PowerPoint Presentation
Download Presentation
Class XVII – Estates Review

Loading in 2 Seconds...

play fullscreen
1 / 24

Class XVII – Estates Review - PowerPoint PPT Presentation


  • 163 Views
  • Uploaded on

Class XVII – Estates Review. Property. Prof. David Glazier Oct 24, 2006. Overview of Today’s Class. Review take home problems Rules for “class” conveyances Special rules of construction - Destructability of contingent remainders - Merger rule - Doctrine of worthier title

loader
I am the owner, or an agent authorized to act on behalf of the owner, of the copyrighted work described.
capcha
Download Presentation

PowerPoint Slideshow about 'Class XVII – Estates Review' - jui


An Image/Link below is provided (as is) to download presentation

Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author.While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server.


- - - - - - - - - - - - - - - - - - - - - - - - - - E N D - - - - - - - - - - - - - - - - - - - - - - - - - -
Presentation Transcript
class xvii estates review

Class XVII – EstatesReview

Property

Prof. David Glazier

Oct 24, 2006

overview of today s class
Overview of Today’s Class
  • Review take home problems
  • Rules for “class” conveyances
  • Special rules of construction
  • - Destructability of contingent remainders
  • - Merger rule
  • - Doctrine of worthier title
  • - Rule in Shelley’s case
classification of remainders
Classification of Remainders
  • To A for lifeRemainder

Vested- (1) held by an identifiable person, and

(2) not subject to condition precedent

To A for life, then to B

Contingent- (1) holder unknown at conveyance, or

(2) subject to condition precedent

To A for life, then to the President

To A for life, then to B if A goes to law school

Vesting does not equate to a right to possession

RAP is about interest vesting, not possession

take home review
Take Home Review
  • O conveys Blackacre “to A and her heirs”
  • 1. A’s interest is:
  • c. a fee simple
  • 2. O retains:
  • d. nothing
take home review5
Take Home Review
  • O conveys Blackacre “to A for life, then to B for life, then to C”
  • 3. B has:
  • b. a vested remainder in life estate
  • 4. C has:
  • d. a vested remainder in fee simple
take home review6
Take Home Review
  • O conveys Blackacre “to A as long as it is used as a law school” . . . In 2003 A decides to turn it into a business school after the last current student graduates on May 30, 2006.
  • 5. Before the 2006 graduation, O has:
  • a. a possibility of reverter
  • 6. As of June 1, 2006 O has:
  • d. a fee simple absolute
take home review7
Take Home Review
  • O conveys Blackacre “to B for life, then to B’s surviving children.”
  • 7. B’s children have:
  • b. a contingent remainder in fee simple
take home review8
Take Home Review
  • O conveys Blackacre “to A and his heirs until B graduates from law school, then to C”
  • 8. A has:
  • d. a fee simple subject to executory limitation
  • 9. C has:
  • d. An executory interest
take home review9
Take Home Review
  • O conveys Blackacre “to A and her heirs so long as used for a law school.”
  • 10. The conveyance:
  • d. is valid because O holds a possibility of reverter
take home review10
Take Home Review
  • O conveys Blackacre “to A and her heirs so long as used for a law school, then to B” O conveys all real prop interests to X.
  • 11. The conveyance:
  • a. is invalid because it violates the Rule Against Perpetuities
  • 12. What is X’s interest in Blackacre?
  • c. possibility of reverter
take home review11
Take Home Review
  • O conveys Blackacre “to A but if the property ceases to be used as a law school, then to B”
  • 13. A has a:
  • a. fee simple absolute
take home review12
Take Home Review
  • O devises Blackacre “to my grandchildren born in the next 25 years.” O currently had no grandchildren.
  • 14. A’s grandchildren have:
  • b. contingent remainder in fee simple
take home review13
Take Home Review
  • O conveys Blackacre “to the children of A who reach 30.” A is alive with children 25 and 29.
  • 15. A’s children have:
  • d. nothing because of a Rule Against Perpetuities violation
take home problems
Take Home Problems
  • Grading:13-15 right – 5 points
  • 9-12 right – 4 points
  • 6-8 right – 3 points
  • 3-5 right – 2 points
  • 0-2 right – 1 point
  • No submission – 0 points
class gifts
Class Gifts
  • To A for life, then to A’s children
  • - “A’s children” is a class
  • -- identified by description vice name
  • -- membership can change over time
  • - If class can increase, it is “open”
  • “To A’s children” while A is alive
  • - If class can’t increase, it is “closed”
  • “To A’s children” after A’s death
closing the class
Closing the Class
  • 1. A class closes naturally when no one else can be born into it
  • - “To the children of A” and A is dead > 9mos
  • 2. Rule of Convenience closes a class when any member can demand possession
  • - Members born subsequently are excluded
  • - Members already living take when they meet any condition precedent
  • -- “To A for life, then to B’s children”
  • -- “To A for life, then to B’s children > 21”
vesting of class gifts
Vesting of Class Gifts
  • A class gift vests if:
  • (1) > one member is identifiable by name, and
  • (2) no condition precedent must be satisfied
  • “To A for life, then to the children of A” and A has a child A1
  • - “vested remainder subject to open”
destructability of contingent remainders
Destructability of Contingent Remainders ***
  • Early English rule to simplify possession
  • Under this rule, contingent remainder destroyed if not vested at termination of prior estate
  • - “To A for life, then to B if he reaches age 21”
  • -- If B is 15 when A dies, O A O B
  • -- Under rule, if B is 15, remainder killed
  • --- O retakes in fee simple
  • Still the law only in IN, KS, NH, and OK
the merger rule
The Merger Rule ***
  • “If a vested life estate and the next succeeding vested estate become owned by same O, the estates are merged into one”
  • To A for life, then to B for life if B >21, then to C
  • - if A buys C remainder, A has vested life estate and succeeding vested estate
  • -- estates are “merged” giving A fee simple
  • -- B loses out on contingent remainder
  • Now obsolete!
doctrine of worthier title
Doctrine of Worthier Title ***
  • Inter vivos transfers
  • - Conveyance of future interest to grantor’s heirs is actually a reversion in grantor
  • -- “To A for life, then to O’s heirs” is treated as if it was “To A for life”
  • -- Keeps O from avoiding estate tax
  • Testamentary transfers
  • - Rule has no effect, O is dead and property is conveyed from estate
the rule in shelley s case
The Rule in Shelley’s Case ***
  • When an instrument transferring a freehold estate also transfers a remainder to that person’s heirs, both are considered to be held by the freeholder
  • “To A for life, remainder to A’s heirs”
  • Becomes
  • “To A for life, remainder to A and his heirs”
  • Merger doctrine then makes it
  • “To A and his heirs”(fee simple)
next class
Next Class
  • Thursday Oct 26 – finish joint tenants
  • Joint tenancy bank accounts pp. 289-90 ***
  • Delfino v. Vealencis pp. 292-96
  • Spiller v. Mackereth pp. 300-02
  • Swartzbaugh v. Sampson pp. 303-07
rap online tutorial
RAP Online Tutorial
  • Tutorial developed by Prof. June Carbone of Santa Clara School of law:
  • http://www.scu.edu/law/FacWebPage/Carbone/RAP/start.htm