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Exam 2: Land Interests: Present and Future

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Question 61

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"To A in 10 years" is:

A) An estate for years.
B) A fee simple absolute.
C) An executory interest.
D) A lease

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Question 62

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A tenancy for a period and a periodic tenancy are the same interests.

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Question 63

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The Rule in Shelley's case applies to remainders given to the heirs of a life estate holder.

The rule against perpetuities applies to options.

"To A for the life of B" creates a life estate in B.

The following grant has been made: "To Nordstrom Department Stores so long as the land is used only for a 5' high by 12' long sign with only the word 'Nordstrom' on the sign."Describe the type of interest(s) created by this grant. Be sure to discuss any rules that may apply.

"To my daughter so long as she lives in Montana and if she ever leaves Montana, to my son." The son holds:

A vested remainder subject to partial divestment exists when a remainder is given to a group which can expand in size.

"To my husband for life, then to my niece, Rebecca, for life, and then to my heirs." Rebecca holds:

Discuss the rights and limitations of life tenants.

A possibility of reverter is a future interest that accompanies the creation of a fee simple subject to a condition subsequent.

"To my alma mater for use as a faculty club and if it is ever not so used, to my son" violates the Rule Against Perpetuities and does not apply to the son's interest.

Discuss the differences between the possibility of reverter and the right of entry/power of termination.

G grants the following, "To A for life and then to the heirs of A." The heirs of A hold what interest?

Which of the following is correct with regard to the interest that follows in a grantor after a fee simple determinable?

"To my wife if she survives me. If my wife does not survive me, then to my daughters." What type of estate is created in the daughters?

A possibility of reverter is non-transferable.

Waste is an act or omission that causes permanent loss to the life estate.

The Rule Against Perpetuities applies to:

"To A for one year, beginning October 1, 2020" is an example of: