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109 cards
1What is a present interest?
2In general, what rights are afforded to the holder of a present interest?
3What is a future interest?
4What is a fee simple absolute?
5What is a fee simple subject to a condition subsequent?
6In general, what sort of language is used to create a fee simple subject to a condition subsequent and the corresponding power of termination?
7What is a fee simple determinable?
8In general, what sort of language is used to create a fee simple determinable and its corresponding possibility of reverter?
9What is a fee simple subject to an executory limitation?
10What is a fee tail?
11What is a reversion?
12What is a remainder?
13What are the only three present interests a reversion or remainder may follow?
14Upon becoming possessory, a reversion or remainder may ripen into one of which six present interests?
15What is an executory interest?
16What are the four ways in which an executory interest differs from a remainder?
17What is the primary difference between a shifting executory interest and a springing executory interest?
18What is a life estate?
19A testator’s will left land “to A for life, then to B.” What future interest is created in B?
20In general, what sort of language is used to create and convey a life estate?
21Can a life estate be set to terminate upon an event other than the end of the life by which the estate is measured?
22What is a term of years?
23Which future interests can follow a term of years?
24Can a term of years be set to terminate prematurely upon the occurrence of some specified condition or event?
25Which future interests can follow a life estate?
26To what extent is a life estate transferable?
27Will a life estate or term of years terminate if both the present and future interests vest in the same person?
28May a life estate or term of years in real property terminate if the present-interest holder commits waste?
29Which future interests can follow a term of years?
30A testator’s will left property “to my son for life.” May the son transfer his estate to another person?
31What is a condition subsequent?
32What is a condition precedent?
33Is an executory interest always contingent?
34What is a contingent remainder?
35If a grantor conveys a contingent remainder, what interest is the grantor presumed to retain until the remainder vests in a grantee?
36What are alternative contingent remainders?
37What is a vested remainder?
38If there is ambiguity about whether a remainder is vested or contingent, do courts generally resolve it in favor of finding a vested remainder or a...
39Traditionally, what are the elements of the term “vested,” as it relates to remainders?
40What is an indefeasibly vested remainder?
41What is a vested remainder subject to complete divestment?
42What is a vested remainder subject to open?
43A testator devised property to “my children who reach 21 years of age.” The testator had one child. The testator died when the child was 10 years o...
44Are powers of termination, reversions, and possibilities of reverter deemed to be vested from the moment they are created?
45What is a power of appointment?
46Who is the donor of a power of appointment?
47Who is the donee of a power of appointment?
48In the context of a power of appointment, who is an appointee?
49In the context of a power of appointment, what is the appointive property?
50Are any special formalities required to create a power of appointment?
51Does the donee of a power of appointment have any duty with respect to the exercise of the power?
52What is a general power of appointment?
53What is a nongeneral power of appointment?
54What is the difference between an exclusive and a nonexclusive nongeneral power of appointment?
55In the context of a power of appointment, who is a taker in default?
56If no takers in default are effectively designated in a general power of appointment, who receives the appointive property if the donee merely fail...
57If no takers in default are effectively designated in a general power of appointment and the donee releases or expressly refrains from exercising t...
58If no takers in default are effectively designated in a nongeneral power of appointment and the donee fails or refuses to exercise the power, to wh...
59What is a presently exercisable power of appointment?
60What is a testamentary power of appointment?
61In general, what must a donee do to exercise a power of appointment?
62In general, may the donee dispose of appointive property without expressly referencing the power of appointment in the instrument of conveyance?
63In general, if a donee dies without having exercised a power of appointment, will a residuary clause in the donee’s will be deemed to exercise a po...
64May a donee disclaim a power of appointment?
65A testator left his nephew a general power of appointment over a ranch the testator owned. In default of appointment, the ranch would go to the tes...
66In some states, does the donee’s augmented estate include a presently exercisable general power of appointment?
67May the donee’s creditors reach appointive property in a nongeneral power of appointment to satisfy their claims against the donee?
68Under traditional doctrine, may the donee’s creditors reach property subject to a general, presently exercisable power of appointment created by on...
69Under the modern trend, may the donee’s creditors reach property subject to a general, presently exercisable power of appointment to satisfy their ...
70Under the modern trend, if a donee dies without exercising a general power of appointment that was exercisable by will, may the creditors of the do...
71What is the common-law rule against perpetuities?
72For purposes of the common-law RAP, what is the measuring life?
73For purposes of the common-law RAP, must the measuring life be a natural person?
74For purposes of the common-law RAP, at what point in time does the perpetuities period begin to run for most interests subject to the rule?
75What is a class gift?
76What is the all-or-nothing rule?
77What is the effect of the rule of convenience on a class gift subject to the common-law RAP and the all-or-nothing rule?
78To which future interests does the common-law RAP apply?
79What is the effect of the common-law RAP on the validity of a power of appointment?
80In most jurisdictions, under the common-law RAP, when does the perpetuities period begin to run, with respect to an interest created by exercising ...
81In most jurisdictions, under the common-law RAP, when does the perpetuities period begin to run with respect to an interest created by exercising a...
82Under the common-law RAP, when does the perpetuities period begin to run with respect to an interest created by exercising a presently exercisable ...
83In general, what is the effect of the common-law RAP on the validity of an irrevocable trust?
84In general, what is the effect of the common-law RAP on the validity of a revocable trust?
85In general, does the common-law RAP apply to the duration of a trust?
86Does the common-law RAP generally apply to a charitable or public trust?
87Does the common-law RAP apply to present interests?
88Does the common-law RAP apply to indefeasibly vested remainders?
89Does the common-law RAP apply to vested remainders subject to complete defeasance?
90Does the common-law RAP apply to any future interest in favor of a grantor?
91Can a reversion be stricken under the common-law RAP?
92Does the common-law RAP presume that anyone can die at any moment?
93Does the common-law RAP presume that any woman, no matter how old, can bear children?
94Does the common-law RAP presume that a decedent’s estate can take longer than 21 years to administer?
95In the context of the common-law RAP, what is the unborn-widow problem?
96What is the charity-to-charity exception to the common-law RAP?
97If an instrument creates multiple interests, only some of which are void under the common-law RAP, what is the effect on the rest of the conveyance?
98A testator devised a historic property “to the school board, but if the property is not used for school purposes, then to my wife.” This conveyance...
99Under the Uniform Probate Code (UPC) approach to the RAP, must a contingent future interest vest, if at all, within 90 years after its creation?
100What effect does the wait-and-see approach to the RAP have on a contingent future interest?
101What does the cy pres approach allow if an interest violates the RAP?
102Do all states apply cy pres to reform an interest that violates the RA, rather than striking the interest outright?
103If a conveyance may or may not be void under the RAP, depending on how an ambiguous provision is construed, will most courts construe the provision...
104How does the cy pres doctrine apply to a charitable trust that will never terminate?
105Do all states currently adhere to some version of the RAP?
106What general approach does the Restatement (Third) of Property (Third Restatement) take to resolve an apparent violation of the RAP?
107What is the Third Restatement’s general approach to the RAP with respect to a disposition contingent on the beneficiary reaching a certain age?
108Do some states, by statute, apply the RAP as a default rule in the context of trusts?
109Do some states, by statute, allow for perpetual or near-perpetual noncharitable trusts?
All flashcards
109 cards