“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!
Vested. Look to what is inside the granting clause.
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)
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?
Ahh that makes sense. So would B have a vested remainder subject to total divestment?
i think it’s subject to condition subsequent.
may be wrong.
.
TTCR
yep…
tho technically speaking B gets at least a life estate unless they pass a law - “can’t get degree past age…”
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.
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?
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
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?
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.
any future interest/rap hypos out there? with answers..
i’m assuming they’re all the same in every school