Future Interest Problem

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FutureInLaw
Posts: 169
Joined: Tue Nov 09, 2010 8:28 pm

Future Interest Problem

Postby FutureInLaw » Sun Apr 29, 2012 8:26 am

Would appreciate the help, as I'm seeing 3 different answers in 2 different places...

"To A for life, then to B for life, then to C and his heirs."

In class, our professor said A has life estate (obviously) and then...

B has vested remainder subject to divestment in life estate
C has vested remainder in FSA

OR

B has contingent remainder in life estate
C has vested remainder in FSA

In the E & E, it says B has vested remainder in life estate, C has vested remainder in FSA.

Thoughts?

Also, should an executory interest always following an interest that is vested and subject to divestment? Or is that false?

Thanks!

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sundance95
Posts: 2123
Joined: Wed Jun 09, 2010 7:44 pm

Re: Future Interest Problem

Postby sundance95 » Sun Apr 29, 2012 2:32 pm

FutureInLaw wrote:Would appreciate the help, as I'm seeing 3 different answers in 2 different places...

"To A for life, then to B for life, then to C and his heirs."

In class, our professor said A has life estate (obviously) and then...

B has vested remainder subject to divestment in life estate
C has vested remainder in FSA

OR

B has contingent remainder in life estate
C has vested remainder in FSA

In the E & E, it says B has vested remainder in life estate, C has vested remainder in FSA.

Thoughts?

Also, should an executory interest always following an interest that is vested and subject to divestment? Or is that false?

Thanks!

Unsure how your prof would characterize B's interest as subject to divestment. B has a vested remainder in life estate. The only contingency would be B not surviving A, but that would merely be the natural end of B's interest so the law doesn't consider it a contingency. C has a vested remainder in FSA, because C is certain to take possession upon A and B's death.

If your prof has characterized this differently, go with that. However, it seems likely that your notes were unclear or mistaken. I'd clarify this with your prof.

TheFactor
Posts: 789
Joined: Wed Feb 23, 2011 3:12 pm

Re: Future Interest Problem

Postby TheFactor » Sun Apr 29, 2012 2:35 pm

Also, no executory interest here because it is not possible for the interest in vest in a third party before the natural end of the estate.

sidhesadie
Posts: 454
Joined: Mon Jul 12, 2010 4:54 pm

Re: Future Interest Problem

Postby sidhesadie » Sun Apr 29, 2012 3:04 pm

we learned what the E&E said, so I second the idea to clarify with your prof.




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