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If a remainder is not now ready to become possessory upon the expiration of the preceding estate, what kind of condition may it be subject to?
If a remainder is not now ready to become possessory upon the expiration of the preceding estate, what kind of condition may it be subject to?
What distinguishes a Vested Remainder Subject to Open from a Vested Remainder Subject to Divestment?
What distinguishes a Vested Remainder Subject to Open from a Vested Remainder Subject to Divestment?
What makes a remainder vested?
What makes a remainder vested?
In what situation does a remainder become contingent?
In what situation does a remainder become contingent?
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What defines a vested remainder subject to complete divestment?
What defines a vested remainder subject to complete divestment?
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What is the defining characteristic of a remainder contingent upon some event occurring?
What is the defining characteristic of a remainder contingent upon some event occurring?
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In what case does a remainder become vested subject to open/partial divestment?
In what case does a remainder become vested subject to open/partial divestment?
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What type of interest does C hold in the example provided (O to A for life, then to B (vested remainder), but if B does not pass the bar, then to C)?
What type of interest does C hold in the example provided (O to A for life, then to B (vested remainder), but if B does not pass the bar, then to C)?
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What type of future interest is created in someone other than the transferor that becomes possessory immediately upon termination of the prior estate?
What type of future interest is created in someone other than the transferor that becomes possessory immediately upon termination of the prior estate?
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In what situation is a remainder said to be subject to a condition precedent?
In what situation is a remainder said to be subject to a condition precedent?
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Which type of future interest cannot vest because the beneficiary is unknown or heirs are not ascertainable?
Which type of future interest cannot vest because the beneficiary is unknown or heirs are not ascertainable?
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What must occur before a vested remainder can become a possessory estate?
What must occur before a vested remainder can become a possessory estate?
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Which type of future interest is created in someone other than the transferor but does not become possessory immediately upon termination of the prior estate?
Which type of future interest is created in someone other than the transferor but does not become possessory immediately upon termination of the prior estate?
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When does a vested remainder become indefeasible?
When does a vested remainder become indefeasible?
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Study Notes
Remainders
- A remainder is vested if it is given to an ascertained person and is not subject to a condition precedent (other than the natural termination of the preceding estates).
- A remainder is contingent if it is given to an unascertained person or is contingent upon some event occurring other than the natural termination of the preceding estates.
Vested Remainder
- A vested remainder is one that is ready to become possessory whenever and however all preceding estates expire.
- Example: O conveys "to A for life, then to B" - B has a vested remainder.
Contingent Remainder
- A contingent remainder is one that is given to an unascertained person or is contingent upon some event occurring other than the natural termination of the preceding estates.
- Example: O conveys "to A for life, then to B if B passes the bar" - B has a contingent remainder.
Vested Remainder Subject to Complete Divestment/Defeasance
- A vested remainder subject to complete divestment is one that can be divested if a certain condition occurs.
- Example: O conveys "to A for life, then to B, but if B does not pass the bar, then to C" - B has a vested remainder subject to complete divestment.
Vested Remainder Subject to Open/Partial Divestment
- A vested remainder subject to open or partial divestment is one that can be divested if a certain condition occurs, but only partially.
- Example: O conveys "to A for life, then to B and her heirs, but if B does not survive A to C and his heirs" - B has a vested remainder subject to open/partial divestment.
Shifting Executory Interest
- A shifting executory interest is one that can become possessory only by divesting another's remainder.
- Example: O conveys "to A for life, then to B, but if B does not pass the bar, then to C" - C has a shifting executory interest.
Knopf v. Gray (2018)
- Facts: Vada Wallace Allen left a will devising various properties to her children and instructing that the property be passed down to their children.
- The will contained a provision devising her land to her son, William Gray, with the condition that Gray maintain the land.
Life Estate and Remainder
- A life estate is a future interest created in someone other than the transferor that will become a present estate upon the expiration of all prior particular estates created with it.
- A remainder is a future interest created in someone other than the transferor that will become a present estate upon the expiration of all prior particular estates created with it.
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Description
Learn about vested and contingent remainders in property law. Understand the criteria that determine whether a remainder is vested or contingent.
