纽约律考 alien notes财产法笔记property

《纽约律考 alien notes财产法笔记property》由会员上传分享，免费在线阅读，更多相关内容在教育资源-天天文库。

1、RealPropertyReddenotes"HotTopics"(mustknowcold)Statistics:33MCquestionsonMBEI.EstatesinLand—FavoriteA.BasicTerminology1.Devisable—passesbywill-WILL2.Descendible—passesthroughintestacy-INTESTACY3.Alienable—transferable-intervivos-INTERVIVOS(Intervivostrustisarevocabletrustcreatedwhilethedonorisstilla

2、live,toholdpropertyforthebenefitofanother.alsocalledlivingtrust)4.Remainder—AfutureinterestcreatedinagranteethatiscapableofbecomingpossessoryuponexpirationofapriorpossessoryestatecreatedinthesameconveyanceB.BasicPrinciples1.Alivingpersonhasnoheirs(onlyheirsapparent)2.Courtsgenerallydisfavorrestricti

3、onsonfreeuseoflandandrestrictionsonfreealienation—construedstrictlyC.PresentEstates1.FeeSimpleAbsolute(absoluteownership)a)"ToA"or"ToAandhisheirs"(nolongernecessary)b)FutureInterest—None.IMPOSSIBLEb/csomebodycan’thaveabsoluteownershipiftheydon’townituntilafuturetime.c)Freelydevisable,descendibleanda

4、lienable.2.DefeasibleFees(threetypes)—MBE/NYFavorite:DEFEASIBLEFEEESTATE:Anestateinwhichtheholderhasafeesimpletitlethatmaybedivestedupontheoccurrenceornonoccurrenceofaspecifiedeventa)FeeSimpleDeterminable/FEEONLIMITATION(NY)(1)"ToAforsolongas;during;until..."(2)FutureInterest—GrantorhasPossibilityof

5、Reverter("FSDPOR"—FeeSimpleDeterminableisALWAYSfollowedbyaPossibilityofReverter)(3)Freelydevisable,descendibleandalienable,BUTtransfereesarealwayssubjecttothecondition(4)BreachresultsinautomaticforfeitureNYDistinctionInNY,thisestateiscalleda"FeeonLimitation"b)FeeSimpleSubjecttoConditionSubsequent/FE

6、EONCONDITION(1)"ToA,butifXeventoccurs,Grantorreservesrighttoreenterandtake"(grantormustexpresslycarveoutrighttoreenter)(2)FutureInterest—GrantorhasRightofEntry(a/k/a"PowerofTermination")(3)BreachdoesNOTresultinautomaticforfeiture,butGrantorhasoptiontocutshortNYDistinctionInNY,thisestateiscalleda"Fee

7、onCondition"andGrantor'sfutureinterestiscalleda"RightofReacquisition"c)FeeSimpleSubjecttoExecutoryLimitation(1)"ToA,butifXeventoccurs,thentoB"-21-(1)FutureInterest—BhasShiftingExecutoryInterest(2)Free