FiltersDone

Question type

Essay

Multiple Choice

Short Answer

True False

Matching

Exam 2: Land Interests: Present and Future

Show Answer

Share

---

All types

Filters

Study Flashcards

Question 41

Multiple Choice

Review LaterAdd Note

Review Later

G leaves all his property "to my issue living 15 years after the completion of the probate of my estate." What type of interest do the issue hold?

A) An executory interest
B) A vested remainder
C) A contingent remainder
D) A possibility of reverter

Correct Answer

verified

Show Answer

Question 42

True/False

Review LaterAdd Note

Review Later

An executory interest is a future interest in the grantor.

Correct Answer

verified

Show Answer

Question 43

True/False

Review LaterAdd Note

The Rule Against Perpetuities is applicable to reversions.

What are saving clauses?

When a remainder is given to the heirs of a then-living person, the remainder is vested.

A tenancy at will is created in the same manner as a periodic tenancy.

"To the University of New Mexico for the time that the land is used for an observatory" is a:

"To my son A for life, then if my granddaughter, Sheila, is married, to Sheila." Sheila's interest is void under the Rule Against Perpetuities.

"To A on the condition that the easement be maintained and should the easement not be maintained, the property shall go to the Mesa Public School District for use as an athletic field." The Mesa Public School District has:

Explain the purpose behind the Rule Against Perpetuities.

"To A for life, then to B's children." (B is alive and has 2 children) . B's children hold:

The Rule Against Perpetuities has been eliminated or changed in some states.

When there is a gap between present and future interests, an executory interest is created.

Classify the following grants. a. "To the Phoenix Zoo for the time that the property is used for a children's petting zoo." b. "To my lovely children, Evan and Willard." c. "To my wife for the lives of my children." d. "To my niece on the condition that she never use the property for commercial purposes."

Most states have a presumption favoring a fee simple determinable language construction.

A life estate can be transferred by will.

The rule in Shelley's Case applies to leases.

"To A so long as the premises are used for the operation of a restaurant," is an example of:

The possibility of reverter requires some action on the part of the grantor to become a present interest.

A tenancy at sufferance exists after the termination of a prior lease but before acceptance of rent by the landlord.