Real Property Outline 整理
I. Ownership of real property
A. Present estates
1. Fees simple
i. Absolute ownership of potential infinite duration
ii. Freely devisable, descendible and alienable
iii. Reasonable restraints on alienation for a limited are permitted but a
complete restraint is void.
2. Defeasible fees----Need duration language
i. Fee simple determinable--automatic reverter (RAP Not applicable)
a. Must use clear durational language
b. If condition is violated-forfeiture automatic
ii. Fee simple subject to condition subsequent
iii. Fee simple subject to executory interest
3. Life estates
i.
Never measure by time or year
ii.
Explicit lifetime terms
iii.
Life estate pur autre vie--A life estate measured by a life other than the
grantee’s.
iv.
Future interest
a. Grantor-reversion
b. Third party-remainder
v.
Waste
The life tenant is entitled to all ordinary uses and profits from the land
but must not commit waste
a. Voluntary waste
b. Permissive waste
c. Ameliorative waste
B. Future interests
1.
2.
3.
4.
5.
Reversions
Remainders, vested and contingent
Executory interests
Possibilities of reverter, powers of termination
Rules affecting these interest (including survivorship, class gifts, waste,
and cy pres)
II. Rights in real property
III. Real estate contract
IV. Mortgages/Security device
V. Titles