Help with future interests problem!

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Nick18
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Help with future interests problem!

Postby Nick18 » Thu Mar 07, 2013 2:53 pm

"O to A for life, then to B and C, but if B does not graduate from medical school, to C."

What is B's interest? Does B have a vested remainder or contingent remainder?

Thanks!

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Witt
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Re: Help with future interests problem!

Postby Witt » Thu Mar 07, 2013 3:00 pm

Vested. Look to what is inside the granting clause.

peeonyou
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Re: Help with future interests problem!

Postby peeonyou » Thu Mar 07, 2013 3:31 pm

Isn't it contingent? If they don't graduate, they don't get the interest?

Other person has a vested interest subject to open (they can lose 1/2)

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Witt
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Re: Help with future interests problem!

Postby Witt » Thu Mar 07, 2013 3:39 pm

B's interest is not subject to a condition precedent, it's subject to a condition subsequent.

peeonyou
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Re: Help with future interests problem!

Postby peeonyou » Thu Mar 07, 2013 3:50 pm

Witt wrote:B's interest is not subject to a condition precedent, it's subject to a condition subsequent.

oh i misread it.... but u wouldnt just call it vested right?

it's a vested interest subject to condition subsequent with the possibility of reversion to C?.... but technically it can't revert till after B dies then. B's heirs have a contingent interest.

what happens if B dies with no degree but C's already dead as well.... does it go to C's heirs or revert back to A?

Nick18
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Re: Help with future interests problem!

Postby Nick18 » Thu Mar 07, 2013 4:00 pm

Ahh that makes sense. So would B have a vested remainder subject to total divestment?

peeonyou
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Re: Help with future interests problem!

Postby peeonyou » Thu Mar 07, 2013 4:29 pm

Nick18 wrote:Ahh that makes sense. So would B have a vested remainder subject to total divestment?

i think it's subject to condition subsequent.

peeonyou
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Re: Help with future interests problem!

Postby peeonyou » Thu Mar 07, 2013 4:30 pm

may be wrong.

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Jsa725
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Re: Help with future interests problem!

Postby Jsa725 » Thu Mar 07, 2013 4:49 pm

.
Last edited by Jsa725 on Fri Oct 24, 2014 9:29 pm, edited 1 time in total.

joetheplumber
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Re: Help with future interests problem!

Postby joetheplumber » Thu Mar 07, 2013 5:21 pm

Jsa725 wrote:huh?

A = Life Estate
B/C =vested remainder in FS subject to cond'n subsq.
C= Executory Interest in FSA


TTCR

peeonyou
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Re: Help with future interests problem!

Postby peeonyou » Thu Mar 07, 2013 7:23 pm

joetheplumber wrote:
Jsa725 wrote:huh?

A = Life Estate
B/C =vested remainder in FS subject to cond'n subsq.
C= Executory Interest in FSA


TTCR

yep....

tho technically speaking B gets at least a life estate unless they pass a law - "can't get degree past age...."

peeonyou
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Re: Help with future interests problem!

Postby peeonyou » Thu Mar 07, 2013 7:51 pm

and what would be an example of subject to a total divestment, with OP's example?

I don't understand how

FS subject to CS is diff from FS subject to TD.

nucky thompson
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Re: Help with future interests problem!

Postby nucky thompson » Fri Mar 08, 2013 12:46 pm

peeonyou wrote:and what would be an example of subject to a total divestment, with OP's example?

I don't understand how

FS subject to CS is diff from FS subject to TD.


FS subject to a CS is a present possessory interest in land. The interest can be cut short. Technically, if the interest is a FSSCS, the correlative future interest is carved out by the grantor, and it is called a right of entry. (if the Future interested is created in a transferor, the defeasible fee is called a FS subject to executory limitation -- but even with these defeasible fees, professors/academics/opinions will typically describe the FS subject to executory limitation in further detail as either a FS determinable (so long as....) or FS subject to condition subsequent (but if...) -- EVEN THOUGH FSD and FSSCS only technically refer to defeasible estates which carve out a future interest in the grantor (NOT A TRANSFEREE)

FS subject to total divestment is a FUTURE INTEREST. It describes a defeasible future interest. FS subject to total divestment includes all types of defeasbile fees. It is just a general way of saying "A" has a future interest in this land, but something could happen which would cut it short, or DE-FEE, or divest the estate before it was naturally supposed to end.

musicfor18
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Re: Help with future interests problem!

Postby musicfor18 » Fri Mar 08, 2013 12:53 pm

Nick18 wrote:"O to A for life, then to B and C, but if B does not graduate from medical school, to C."

What is B's interest? Does B have a vested remainder or contingent remainder?

Thanks!


At the time of the conveyance, A has a life estate, B has a vested remainder subject to complete defeasance, and C has an indefeasibly vested remainder.

Right?

TLSwag
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Re: Help with future interests problem!

Postby TLSwag » Fri Mar 08, 2013 1:29 pm

Sike -- Musicfor18 has it, except I think C has an executory interest...

I'm pretty sure I am right.
A = LE
B = vested remainder subject to complete defeasance
C = executory limitation/interest

musicfor18
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Re: Help with future interests problem!

Postby musicfor18 » Fri Mar 08, 2013 1:42 pm

Well, C's interest would definitely be an executory interest if it weren't for the fact that the first remainder is in B and C. So, I guess B and C's remainder is as tenants in common? And then, if B doesn't graduate, then C will be the sole possessor.

I'm not sure how this is expressed. Maybe C has both a vested remainder and an executory interest?

TLSwag
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Re: Help with future interests problem!

Postby TLSwag » Fri Mar 08, 2013 1:52 pm

musicfor18 wrote:Well, C's interest would definitely be an executory interest if it weren't for the fact that the first remainder is in B and C. So, I guess B and C's remainder is as tenants in common? And then, if B doesn't graduate, then C will be the sole possessor.

I'm not sure how this is expressed. Maybe C has both a vested remainder and an executory interest?


I did think that was weird too, I know my prof. never used a hypo/example with the "and C" like that, but I learned whenever something/someone cuts off another interest or cuts short, its termed as an executory interest. C definitely cuts off B in this example in some way, shape or form... but duly noted on the TC point. Can you have a vested remainder AND an executory interest?

collegewriter
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Re: Help with future interests problem!

Postby collegewriter » Thu Apr 11, 2013 6:21 pm

B's interest is vested subject to divestment. A vested interest like that goes hand in hand with an executory interest on C's part normally. HOWEVER, here C's interest is already vested. C has a fee simple in 1/2 of the property. B's interest is already vested because the divesting clause occurs after the comma. If the condition for vesting is included in the grant it is a contingent interest.

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paulshortys10
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Re: Help with future interests problem!

Postby paulshortys10 » Mon Apr 15, 2013 2:00 pm

any future interest/rap hypos out there? with answers..

i'm assuming they're all the same in every school




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