Present estates and waste Bar Exam Flashcards - Medical Study Cards
Master Present estates and waste with Oncourse flashcards. These spaced repetition flashcards are designed for medical students preparing for NEET PG, USMLE Step 1, USMLE Step 2, MBBS exams, and other medical licensing examinations.
Present estates and waste Flashcard Deck - 8 Cards
Flashcard 1: What feature distinguishes a tenancy by the entirety from a joint tenancy?
Answer: A tenancy by the entirety is available only to married spouses in states recognizing it and includes a right of survivorship. Generally, neither spouse may unilaterally convey or encumber the property without the other spouse’s consent.
Flashcard 2: How do a fee simple determinable and a fee simple subject to a condition subsequent differ?
Answer: A fee simple determinable ends automatically upon the stated event and is followed by a possibility of reverter, while a fee simple subject to a condition subsequent continues until the grantor exercises a right of entry after the event.
Flashcard 3: What is a tenancy in common?
Answer: A tenancy in common is concurrent ownership in which each cotenant holds a separate fractional interest with an equal right to possess the whole property. There is no right of survivorship, so a deceased cotenant’s interest passes by will or intestacy.
Flashcard 4: Are words of inheritance required to convey a fee simple under the modern majority rule?
Answer: No. Under the modern majority rule, a conveyance to a person without a stated duration presumptively creates a fee simple absolute; words such as “and heirs” are unnecessary.
Flashcard 5: What estate is created by a conveyance “to A, but if alcohol is ever sold on the premises, then to B”?
Answer: A has a fee simple subject to an executory limitation, and B has an executory interest. If the stated event occurs, B automatically takes possession without the grantor’s reentry or election.
Flashcard 6: What is a life estate, and what future interest follows a life estate created in the grantor?
Answer: A life estate lasts for the life of a specified person and is inalienable as to its duration; the life tenant cannot convey a greater estate. When the grantor retains the future interest, it is a reversion.
Flashcard 7: What are the requirements for creating a joint tenancy under the majority rule?
Answer: The four unities are time, title, interest, and possession: the joint tenants must acquire equal interests at the same time, through the same instrument, with equal rights to possess. A joint tenant’s conveyance severs the joint tenancy as to that interest and creates a tenancy in common.
Flashcard 8: What duties does a life tenant owe regarding waste?
Answer: A life tenant must avoid voluntary waste, permissive waste, and, under the majority rule, ameliorative waste unless the changes are consented to or do not significantly reduce the property’s value.
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