Property question

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klussy
Posts: 121
Joined: Mon Apr 27, 2009 5:19 pm

Property question

Postby klussy » Thu Feb 03, 2011 8:33 am

Vested remainder subject to defeasibility:
The holder of the remainder is ascertainable, but the occurrence of a specified condition could extinguish the remainder.
Example: Olivia conveys Greenacre “To Arnold for life, then to Ben and his heirs; but if Ben dies before Arnold, then to Claire and her heirs.” Arnold has a life estate; Ben has a vested remainder subject to divestment because the occurrence of his death before the end of Arnold’s life estate extinguishes Ben’s remainder.

My question: how is the holder of the remainder ascertainable, if in the present it is up in the air--since it could be Ben or Claire.

Thanks for any help on this.

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klussy
Posts: 121
Joined: Mon Apr 27, 2009 5:19 pm

Re: Property question

Postby klussy » Thu Feb 03, 2011 9:58 am

Edit: saw what you meant. thanks for the help 8)
Last edited by klussy on Thu Feb 03, 2011 10:28 am, edited 1 time in total.

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klussy
Posts: 121
Joined: Mon Apr 27, 2009 5:19 pm

Re: Property question

Postby klussy » Thu Feb 03, 2011 10:31 am

wait...so "ascertainable" is determined from the time when Arnold dies? not the time of Olivia's conveyance?




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