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RM 424: Exam #2 questions with verified answers

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RM 424: Exam #2 questions with verified answers

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RM 424: Exam #2 questions with verified
answers

Estate (in legal terms) - correct answer ✔✔describes the nature, quality, and quantity of the person's
interest in real property



Freehold Estate - correct answer ✔✔an indefinite estate for life or in fee



No freehold or Leased Estate - correct answer ✔✔An ownership interest in land (personal property)
generally for a fixed or determinable duration



Fee Simple Absolute (the fee, fee) - correct answer ✔✔An estate limited absolutely to its owners and
their heirs that assigns forever without limitation or condition



Fee Simple Defeasible - correct answer ✔✔A fee estate that may end upon the happening of a specified
event



Fee Simple Determinable - correct answer ✔✔A type of defeasible fee that ends automatically when
land is used in a manner forbidden in the grant of ownership



Possibility of Reverter - correct answer ✔✔Future interest associated with the fee simple determinable
estate wherein the interest may return to the grantor when there is a breach of a condition to which it
was granted.



Fee Simple Subject to an executory limitation or interest - correct answer ✔✔A type of defeasible fee
that ends automatically when land is used in a manner forbidden in the grant of ownership, but vests in
someone other than the grantor (I.E. heirs)



Executory interest - correct answer ✔✔A future interest associated with the fee simples subject to an
executory condition wherein the interest may return to a party other than the grantor when there is a
breach of a conditional to which it was granted. Must vest in a person other than the grantor

, Fee Simple Subject to a conditional subject - correct answer ✔✔A type of defeasible fee that entitles the
grantor to end the interest by exercising the right of entry after the grantee breaches a condition under
which it was granted



Right of Entry/ Termination - correct answer ✔✔A future interest associated with the see simple subject
to a conditional subsequent in which the grantor may elect to end the interest after the grantee
breaches a condition under which it was granted



Fee SImple Subject to an executor limitation or interest-executory interest - correct answer ✔✔Estate
may last forever unless used in a forbidden manner; if so, it goes to someone other than the grantor or
his heirs. 3rd party has executory interest



Case: Ringgold v. Queen Anne's County Associated for Handicapped Citizens, Inc. - correct answer
✔✔Ringgold donated a house to the queen group b/c his brother needed supervision b/c he was
disabled. Brother died in car crash due to X-employee. Brother lost bc they provided adequate care for
daily needs.



Restraint on alienation - correct answer ✔✔A provision of conveyance that prohibits the grantee from
transferring the property that is the subject of the restraint



Fee Tail - correct answer ✔✔An estate in fee that descends to the grantee's direct lineal (of his body)
heirs and through them to the direct lineal hairs of the next generation. One hair can not sell without the
rest



Life Estate - correct answer ✔✔An estate in which duration is measured by the life of a person



Pur Autre Vie - correct answer ✔✔life estate measured by the life of the third party, left to them by the
original grantee. Lasts fro the life of another named other than the life tenant, then reverts to grantor
(original grantee)



Reversion - correct answer ✔✔A future interest left in the grantor after the grantor conveys an estate
smaller than his own.
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