1. 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

2. SPOTBUTCH LEARN THEIR NAMES

4. 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

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

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

8. PRESENT POSSESSORY ESTATES

9. Present v. Future (Tenant v. Landlord)

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

11. FEE SIMPLE ABSOLUTE

12. “Simple” to distinguish from “Fee Tail”

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

14. 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

15. Lloyd grants Redacre “to Mimi and her heirs.”

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

17. 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?

18. RELEVANT TIME FRAMES “At Common Law”: Dates prior to modern streamlining of the rules. (e.g., 1600-1800)

19. RELEVANT TIME FRAMES “At Common Law”: Dates prior to modern streamlining of the rules. (e.g., 1600-1800) “Today”: Dates after modern stream-lining of the rules. (e.g., 1950-present)

20. RELEVANT TIME FRAMES “At Common Law”: Dates prior to modern streamlining of the rules. (e.g., 1600-1800) “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.

21. FINITE ESTATES TERM OF YEARS FEE TAIL LIFE ESTATE

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

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

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

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

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

27. 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

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

30. 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

31. 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

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

33. 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

34. 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?

35. 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.

36. 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

37. 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

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

39. 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

40. FUTURE INTERESTS THAT FOLLOW FINITE ESTATES REVERSION REMAINDER

41. 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.

42. 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.

43. 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.

44. 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.

45. QUESTIONS?

46. QUESTIONS ON WRITTEN ASSIGNMENT #3?

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

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

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

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

51. Distractions Yet to Come

52. 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

53. 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)

54. 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!!

55. 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

56. 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.

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

59. 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

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

61. 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

62. 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.

63. 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

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

65. 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 …

66. LAKE MISTS

69. OOPS!!

70. MAKE LISTS!!