Friday, February 10, 2012

Examples of Conveyances

Examples of Conveyances

1600, B conveys to C forever 

-B owns a fee simple (don't dispose of the entire fee).
-C owns a life estate.

B dies, C alive - B's interest goes to his heirs.

O, A for life, remainder to heirs of O

-A has a life estate
-When O dies, passes by inheritance to heirs.
-O has reversion in fee simple.
-Heirs have no interest.
-If A dies before O, property has to go back to O.

O, to A for life, remainder to heirs of X

-A has a life estate.
-Heirs of X: fee simple/remainder (contingent: don't know who heirs are, contingent on there being heirs of x)
-O has a reversion.

Z conveys to O + heirs.
O: to A for life

-Life estate: alienable (can be transferred)
-Indefinite duration.
-O retains a fee simple (reversion).

O: to A for life, then to B + heirs.

-A has a life estate.
-B has a fee simple (remainder)
-B does not have to be alive to take.
-If no heirs, escheats to state.
-O obtains no seisin (can only be transferred in the present).

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