the shadow of the past music: chant the benedictine monks of santo domingo de silos chapter 7: the...
TRANSCRIPT
CHAPTER 7:
The Shadow of The Shadow of the Pastthe Past
MUSIC: CHANTMUSIC: CHANTThe Benedictine Monks of Santo Domingo de SilosThe Benedictine Monks of Santo Domingo de Silos
SPOT BUTCH
LEARN THEIR NAMES
Laypeople Don’t Know Categories
Leads to Tension Between:• Channeling Function (Telling State What
to Do w Property Conveyed) &
• Grantor’s Intent
See White v. Brown on Monday
RECURRING ISSUES
• Grantor’s Intent v. Dead Hand Control
RECURRING ISSUES
• Grantor’s Intent v. Dead Hand Control
• Grantor’s Intent v. Alienability
PRESENT
POSSESSORY
ESTATES
PRESENT POSSESSORY ESTATES
• Present v. Future
(Tenant v. Landlord)
PRESENT POSSESSORY ESTATES
• Present v. Future
• Possessory v. Non-Possessory:
(Tenant v. Trust Beneficiary)
FEE SIMPLE ABSOLUTE
FEE SIMPLE ABSOLUTE
• “Simple” to distinguish from “Fee Tail”
FEE SIMPLE ABSOLUTE
• “Simple” to distinguish from “Fee Tail”
• “Absolute” to distinguish from conditional or “defeasible” fees, which we’ll introduce next week.
• Right to possess and use forever
• Right to transfer all present and future rights (inheritable/devisable)
• Right to liquidate assets
• Default estate today
FEE SIMPLE ABSOLUTE
FEE SIMPLE ABSOLUTE
Lloyd grants Redacre “to Mimi and her heirs.”
FEE SIMPLE ABSOLUTE
Lloyd grants Redacre “to Mimi and her heirs.”
WORDS OF PURCHASE:
WHO GETS THE ESTATE?
FEE SIMPLE ABSOLUTE
Lloyd grants Redacre “to Mimi and her heirs.”
WORDS OF PURCHASE: WHO GETS THE ESTATE?
WORDS OF LIMITATION:
WHAT ESTATE DO THEY GET?
RELEVANT TIME FRAMES
•“At Common Law”: Dates prior to modern streamlining of the rules.
(e.g., 1600-1800)
RELEVANT TIME FRAMES
• “At Common Law”: Dates prior to modern streamlining of the rules. (e.g., 1600-1800)
• “Today”: Dates after modern stream-lining of the rules. (e.g., 1950-present)
RELEVANT TIME FRAMES• “At Common Law”: Dates prior to modern
streamlining of the rules. (e.g., 1600-1800)
• “Today”: Dates after modern streamlining of the rules. (e.g., 1950-present)
• Precise line between them varies from state to state and from issue to issue, so you don’t need to know where it is.
FINITE ESTATES
TERM OF YEARS
FEE TAIL
LIFE ESTATE
FINITE ESTATES
TERM OF YEARS: TO ANN FOR 10 YEARS
FEE TAIL
LIFE ESTATE
TERM OF YEARS
• Finite period specified
• Can alienate, devise, inherit (until term ends)
• Need explicit time language to create: (“for 99 years”)
FINITE ESTATES
TERM OF YEARS: TO ANN FOR 10 YEARS
FEE TAIL: TO CAL & THE HEIRS OF HIS BODY
LIFE ESTATE:
ISSUE v. HEIRS
• Issue = Direct (= “Lineal”) Descendants (Children, Grandchildren, etc.)
ISSUE v. HEIRS
• Issue = Direct Descendants
• Heirs = People who inherit your property at the time of your death under the relevant Intestacy Statute
ISSUE v. HEIRS
• Issue = Direct Descendants
• Heirs = People who inherit your property at the time of your death under the relevant Intestacy Statute
• You cannot have heirs until the moment of death
FINITE ESTATES
TERM OF YEARS: TO ANN FOR 10 YEARS
FEE TAIL: TO CAL & THE HEIRS OF HIS BODY
LIFE ESTATE:
FINITE ESTATES
TERM OF YEARS: TO ANN FOR 10 YEARS
FEE TAIL: TO CAL & THE HEIRS OF HIS BODY
LIFE ESTATE: TO BEA FOR LIFE
• Right to possess and use forever
• Right to transfer all present and future rights (inheritable/devisable)
• Right to liquidate assets
• Default estate today
FEE SIMPLE ABSOLUTE
• Right to possess and use only for lifetime of original grantee
LIFE ESTATE
• Right to possess and use only for lifetime of original grantee
• Right to transfer only rights for lifetime of original grantee (not inheritable/ devisable)
LIFE ESTATE
What if a living person transfers a life estate?
• Opal conveys Gemacre “to Ruby for life”, retaining a reversion for herself.
• Ruby then conveys her life estate “to Esmeralda.”
• What does Esmeralda have?
What if a living person transfers a life estate?• Opal conveys Gemacre “to Ruby for life”, retaining a
reversion herself.• Ruby then conveys her life estate “to Esmeralda.”
• Esmeralda has a life estate pur autre vie (for the life of another). The duration of the interest is still measured by Ruby’s life.
• Right to possess and use only for lifetime of original grantee
• Right to transfer only rights for lifetime of original grantee (not inheritable/devisable)
• Right only to present income; can’t liquidate capital (Doctrine of Waste)
LIFE ESTATE
• Right to possess and use only for lifetime of original grantee
• Right to transfer only rights for lifetime of original grantee (not inheritable/devisable)
• Right only to present income; can’t liquidate capital
• Default Estate at Common Law
LIFE ESTATE
DEFAULT ESTATE (“To Bill.”)What does Bill get if not specified?
• Common Law: Default was Life EstateBill gets Life EstateGrantor keeps Reversion
DEFAULT ESTATE (“To Bill.”)What does Bill get if not specified?
• Common Law: Default was Life EstateBill gets Life Estate; Grantor keeps
Reversion
• Today: Default is Fee Simple– Bill gets Fee Simple Absolute– Grantor keeps nothing
FUTURE INTERESTS THAT FOLLOW FINITE ESTATES
•REVERSION
•REMAINDER
FUTURE INTERESTS THAT FOLLOW FINITE ESTATES
REVERSIONREVERSION
Future interest retained by grantor when s/he conveys a finite estate without indicating who will have rights when it expires.
FUTURE INTERESTS THAT FOLLOW FINITE ESTATES
REVERSIONREVERSION
Future interest retained by grantor when s/he conveys a finite estate without indicating who will have rights when it expires. E.g.:
Ceci conveys Greenacre “To Didi for life.”
Ceci retains a reversion.
FUTURE INTERESTS THAT FOLLOW FINITE ESTATES
REMAINDERREMAINDER
Future interest in a third party that follows naturally upon the termination of a finite estate. It is always expressly conveyed by the grantor.
FUTURE INTERESTS THAT FOLLOW FINITE ESTATES
REMAINDERREMAINDER
Future interest in a third party that follows naturally upon the termination of a finite estate. It is always expressly conveyed by the grantor. E.g.:
Fifi conveys Tanacre “To Gigi for life, then to J.J.”
J.J. has a remainder. Fifi retains nothing.
QUESTIONS?
QUESTIONS ON WRITTEN ASSIGNMENT #3?
What Now?
February: I’ve Got My Grades.
What Now?
What Now?• February: I’ve Got My Grades. What Now?
MARCH:LRW is Ending.
What Now?
MARCH: LRW is Ending. What Now?
COLD HARD FACTS ABOUT TIME
•8-10 Days Until Spring Break
MARCH: LRW is Ending. What Now?
COLD HARD FACTS ABOUT TIME
•10/8 Days Until Spring Break•5 Weeks of Classes After Spring
Break
Distractions Yet to Come
MARCH: LRW is Ending. What Now?
COLD HARD FACTS ABOUT TIME
•10/8 Days Until Spring Break•5 Weeks of Classes After Spring
Break•Lot of Distractions Remaining
MARCH: LRW is Ending. What Now?
COLD HARD FACTS ABOUT TIME
•10/8 Days Until Spring Break•5 Weeks of Classes After Spring
Break•Lot of Distractions Remaining•6 Days from Last Class to First
Exam (No Thanksgiving Break)
MARCH: LRW is Ending. What Now?
COLD HARD FACTS ABOUT TIME• 10/8 Days Until Spring Break• 5 Weeks of Classes After Spring Break• Lot of Distractions Remaining• 6 Days from Last Class to First Exam
START PLANNING FOR EXAMS NOW!!
MARCH: LRW is Ending. What Now?
GOOD NEWS!!1. Unlike Week Eight of First
Semester, You Know What You Are Doing Sufficiently to Start Preparing Now
MARCH: LRW is Ending. What Now?
GOOD NEWS!!1. Unlike Week Eight of First
Semester, You Know What You Are Doing Sufficiently to Start Preparing Now
2. In Contrast to 90+% of U.S. Law Schools, the Closer We Get to Finals, the Worse Our Weather Gets.
MARCH: LRW is Ending. What Now?
SOME SUGGESTIONS1. Spring Break
MARCH: LRW is Ending. What Now?
SOME SUGGESTIONS1. Spring Break: If Possible
(Roughly) • 4 Days of Complete R&R• 5 Days of Hard Work
MARCH: LRW is Ending. What Now?
SOME SUGGESTIONS1. Spring Break: 4 Days Off, 5 Days On
2. Start Outlining or Chapter Reviews ASAP
MARCH: LRW is Ending. What Now?
SOME SUGGESTIONS1. Spring Break: 4 Days Off, 5 Days On2. Start Outlining or Chapter Reviews ASAP
3. Start Working with Old Exams
MARCH: LRW is Ending. What Now?
WORKING WITH OLD EXAMS• Can do part or all of old Qs as
soon as relevant chapter is completed.
MARCH: LRW is Ending. What Now?
WORKING WITH OLD EXAMS• Can do old Qs when chapter
complete.• Do Some Under Exam
Conditions For Property Means– Short Qs: 5 Minutes Read; 20 Minutes
Write– Long Qs: 15 Minutes Read; 60 Minutes
Write
MARCH: LRW is Ending. What Now?
WORKING WITH OLD EXAMS• Can do old Qs when chapter
complete.• Do Some Under Exam
Conditions• Group Work
MARCH: LRW is Ending. What Now?
SOME SUGGESTIONS1. Spring Break: 4 Days Off, 5 Days On2. Start Outlining or Chapter Reviews ASAP3. Start Working with Old Exams
4.Most Importantly …
LAKE MISTS
LAKE MISTS
OOPS!!
MAKE LISTS!!