The Shadow of the Past MUSIC: CHANT The Benedictine Monks of Santo Domingo de Silos CHAPTER 7: The Shadow of the Past MUSIC: CHANT The Benedictine Monks of Santo Domingo de Silos

SPOTBUTCH LEARN THEIR NAMES

Laypeople Don’t Know Categories Leads to Tension Between: Channeling Function (Telling State What to Do w Property Conveyed) & Grantor’s Intent See White v. Brown on Monday

RECURRING ISSUES Grantor’s Intent v. Dead Hand Control

RECURRING ISSUES Grantor’s Intent v. Dead Hand Control Grantor’s Intent v. Alienability

PRESENT POSSESSORY ESTATES

Present v. Future (Tenant v. Landlord)

PRESENT POSSESSORY ESTATES Present v. Future Possessory v. Non- Possessory: (Tenant v. Trust Beneficiary)

FEE SIMPLE ABSOLUTE

“Simple” to distinguish from “Fee Tail”

FEE SIMPLE ABSOLUTE “Simple” to distinguish from “Fee Tail” “Absolute” to distinguish from conditional or “defeasible” fees, which we’ll introduce next week.

Right to possess and use forever Right to transfer all present and future rights (inheritable/devisable) Right to liquidate assets Default estate today FEE SIMPLE ABSOLUTE

Lloyd grants Redacre “to Mimi and her heirs.”

FEE SIMPLE ABSOLUTE Lloyd grants Redacre “to Mimi and her heirs.” WORDS OF PURCHASE: WHO GETS THE ESTATE?

FEE SIMPLE ABSOLUTE Lloyd grants Redacre “to Mimi and her heirs.” WORDS OF PURCHASE: WHO GETS THE ESTATE? WORDS OF LIMITATION: WHAT ESTATE DO THEY GET?

RELEVANT TIME FRAMES “At Common Law”: Dates prior to modern streamlining of the rules. (e.g., )

RELEVANT TIME FRAMES “At Common Law”: Dates prior to modern streamlining of the rules. (e.g., ) “Today”: Dates after modern stream-lining of the rules. (e.g., 1950-present)

RELEVANT TIME FRAMES “At Common Law”: Dates prior to modern streamlining of the rules. (e.g., ) “Today”: Dates after modern streamlining of the rules. (e.g., 1950-present) Precise line between them varies from state to state and from issue to issue, so you don’t need to know where it is.

FINITE ESTATES TERM OF YEARS FEE TAIL LIFE ESTATE

FINITE ESTATES TERM OF YEARS: TO ANN FOR 10 YEARS FEE TAIL LIFE ESTATE

TERM OF YEARS Finite period specified Can alienate, devise, inherit (until term ends) Need explicit time language to create: (“for 99 years”)

FINITE ESTATES TERM OF YEARS: TO ANN FOR 10 YEARS FEE TAIL: TO CAL & THE HEIRS OF HIS BODY LIFE ESTATE:

ISSUE v. HEIRS Issue = Direct (= “Lineal”) Descendants (Children, Grandchildren, etc.)

ISSUE v. HEIRS Issue = Direct Descendants Heirs = People who inherit your property at the time of your death under the relevant Intestacy Statute

ISSUE v. HEIRS Issue = Direct Descendants Heirs = People who inherit your property at the time of your death under the relevant Intestacy Statute You cannot have heirs until the moment of death

FINITE ESTATES TERM OF YEARS: TO ANN FOR 10 YEARS FEE TAIL: TO CAL & THE HEIRS OF HIS BODY LIFE ESTATE:

FINITE ESTATES TERM OF YEARS: TO ANN FOR 10 YEARS FEE TAIL: TO CAL & THE HEIRS OF HIS BODY LIFE ESTATE: TO BEA FOR LIFE

Right to possess and use forever Right to transfer all present and future rights (inheritable/devisable) Right to liquidate assets Default estate today FEE SIMPLE ABSOLUTE

Right to possess and use only for lifetime of original grantee LIFE ESTATE

Right to possess and use only for lifetime of original grantee Right to transfer only rights for lifetime of original grantee (not inheritable/ devisable) LIFE ESTATE

What if a living person transfers a life estate? Opal conveys Gemacre “to Ruby for life”, retaining a reversion for herself. Ruby then conveys her life estate “to Esmeralda.” What does Esmeralda have?

What if a living person transfers a life estate? Opal conveys Gemacre “to Ruby for life”, retaining a reversion herself. Ruby then conveys her life estate “to Esmeralda.” Esmeralda has a life estate pur autre vie (for the life of another). The duration of the interest is still measured by Ruby’s life.

Right to possess and use only for lifetime of original grantee Right to transfer only rights for lifetime of original grantee (not inheritable/devisable) Right only to present income; can’t liquidate capital (Doctrine of Waste) LIFE ESTATE

Right to possess and use only for lifetime of original grantee Right to transfer only rights for lifetime of original grantee (not inheritable/devisable) Right only to present income; can’t liquidate capital Default Estate at Common Law LIFE ESTATE

DEFAULT ESTATE (“To Bill.”) What does Bill get if not specified? Common Law: Default was Life Estate Bill gets Life Estate Grantor keeps Reversion

DEFAULT ESTATE (“To Bill.”) What does Bill get if not specified? Common Law: Default was Life Estate Bill gets Life Estate; Grantor keeps Reversion Today: Default is Fee Simple –Bill gets Fee Simple Absolute –Grantor keeps nothing

FUTURE INTERESTS THAT FOLLOW FINITE ESTATES REVERSION REMAINDER

FUTURE INTERESTS THAT FOLLOW FINITE ESTATES REVERSION Future interest retained by grantor when s/he conveys a finite estate without indicating who will have rights when it expires.

FUTURE INTERESTS THAT FOLLOW FINITE ESTATES REVERSION Future interest retained by grantor when s/he conveys a finite estate without indicating who will have rights when it expires. E.g.: Ceci conveys Greenacre “To Didi for life.” Ceci retains a reversion.

FUTURE INTERESTS THAT FOLLOW FINITE ESTATES REMAINDER Future interest in a third party that follows naturally upon the termination of a finite estate. It is always expressly conveyed by the grantor.

FUTURE INTERESTS THAT FOLLOW FINITE ESTATESREMAINDER Future interest in a third party that follows naturally upon the termination of a finite estate. It is always expressly conveyed by the grantor. E.g.: Fifi conveys Tanacre “To Gigi for life, then to J.J.” J.J. has a remainder. Fifi retains nothing.

QUESTIONS?

QUESTIONS ON WRITTEN ASSIGNMENT #3?

What Now? February: I’ve Got My Grades. What Now?

February: I’ve Got My Grades. What Now? MARCH: LRW is Ending. What Now?

MARCH: LRW is Ending. What Now? COLD HARD FACTS ABOUT TIME 8-10 Days Until Spring Break

MARCH: LRW is Ending. What Now? COLD HARD FACTS ABOUT TIME 10/8 Days Until Spring Break 5 Weeks of Classes After Spring Break

Distractions Yet to Come

MARCH: LRW is Ending. What Now? COLD HARD FACTS ABOUT TIME 10/8 Days Until Spring Break 5 Weeks of Classes After Spring Break Lot of Distractions Remaining

MARCH: LRW is Ending. What Now? COLD HARD FACTS ABOUT TIME 10/8 Days Until Spring Break 5 Weeks of Classes After Spring Break Lot of Distractions Remaining 6 Days from Last Class to First Exam (No Thanksgiving Break)

MARCH: LRW is Ending. What Now? COLD HARD FACTS ABOUT TIME 10/8 Days Until Spring Break 5 Weeks of Classes After Spring Break Lot of Distractions Remaining 6 Days from Last Class to First Exam START PLANNING FOR EXAMS NOW!!

MARCH: LRW is Ending. What Now? GOOD NEWS!! 1.Unlike Week Eight of First Semester, You Know What You Are Doing Sufficiently to Start Preparing Now

MARCH: LRW is Ending. What Now? GOOD NEWS!! 1.Unlike Week Eight of First Semester, You Know What You Are Doing Sufficiently to Start Preparing Now 2.In Contrast to 90+% of U.S. Law Schools, the Closer We Get to Finals, the Worse Our Weather Gets.

MARCH: LRW is Ending. What Now? SOME SUGGESTIONS 1.Spring Break

MARCH: LRW is Ending. What Now? SOME SUGGESTIONS 1.Spring Break: If Possible (Roughly) 4 Days of Complete R&R 5 Days of Hard Work

MARCH: LRW is Ending. What Now? SOME SUGGESTIONS 1.Spring Break: 4 Days Off, 5 Days On 2.Start Outlining or Chapter Reviews ASAP

MARCH: LRW is Ending. What Now? SOME SUGGESTIONS 1.Spring Break: 4 Days Off, 5 Days On 2.Start Outlining or Chapter Reviews ASAP 3.Start Working with Old Exams

MARCH: LRW is Ending. What Now? WORKING WITH OLD EXAMS Can do part or all of old Qs as soon as relevant chapter is completed.

MARCH: LRW is Ending. What Now? WORKING WITH OLD EXAMS Can do old Qs when chapter complete. Do Some Under Exam Conditions For Property Means –Short Qs: 5 Minutes Read; 20 Minutes Write –Long Qs: 15 Minutes Read; 60 Minutes Write

MARCH: LRW is Ending. What Now? WORKING WITH OLD EXAMS Can do old Qs when chapter complete. Do Some Under Exam Conditions Group Work

MARCH: LRW is Ending. What Now? SOME SUGGESTIONS 1.Spring Break: 4 Days Off, 5 Days On 2.Start Outlining or Chapter Reviews ASAP 3.Start Working with Old Exams 4.Most Importantly …

LAKE MISTS

OOPS!!

MAKE LISTS!!