1. Fee Simple Absolute
1.1. Complete ownership lasting until the end of time. Owner may transfer it away by sale or gift during his life time or devise it by will at death.
1.1.1. If dies intestate, land will pass to heirs automatically
1.1.2. While can't use to infinity (mortality) can control who will use the property from now until infinity.
1.2. highest and best form of ownership
1.2.1. Provides the most complete rights
1.3. Requires Language of
1.3.1. To A or To heirs at common law
1.3.2. Modernly, no language. Statue and judicial decision have made a FSA the presumed conveyance unless otherwise specified
1.4. Discenidble
1.4.1. Can transfer by intestacy statute to heirs w/o will
1.5. Alienable
1.5.1. Freely transferable
1.6. Divisible
1.6.1. Freely inheritable
2. Life Estate
2.1. Tenant will hold the land for life, but no rights in the future heirs.
2.1.1. Must be accompanied by future interest language
2.2. Requires language
2.2.1. To A for Life
2.3. Not Divisible
2.3.1. cannot transfer by will
2.4. Not discendible
2.4.1. Cannot inherit from intestacy
2.5. Alienable
2.5.1. Invtervivos. Transferable during life for as long as tenant lives.
2.5.1.1. Deemed to transfer entire interest unless worded otherwise.
2.6. Upon death of life tenant, the ownership reverts to the grantor under reversion. If left to a third party, they will have remainder
2.6.1. Grantor will have a future interest but cannot use the land due to grantee holding present interest.
3. Fee Tail
3.1. Largely abolished.
3.2. Requires language
3.2.1. To A and heirs of his body
3.3. estate of limited duration. Only applies to lineal descendants, Terminates by law and goes to future interest.
3.3.1. Failure of issue causes grantor to either 1. Provide where the estate goes 2. estate reverts to grantor or to grantors heirs.
3.4. Not divisable.
3.4.1. Preserved entire estate
4. Term of Years
4.1. Conveys a right to possess with limits in time.
4.2. Always accompanied by Future interest
4.3. Requires language
4.3.1. To A for time.
5. Fee Simple Determinable
5.1. An estate that would be a fee simple absolute but for a provision that states the estate will automatically end on the happening of an even or non event.
5.2. Uses language of
5.2.1. So long as
5.2.2. during
5.2.3. while
5.2.4. unless
5.3. While perpetual, this estate will terminate if the condition subsequent occurs
5.4. Creates a possibility of Revert if the reverting to grantor as result of condition subsequent
5.4.1. Occurrence of condition subsequent causes the statute of limitations to begin to run.
6. Fee Simple Subject to Condition Subsequent
6.1. Allows forever holding of the estate, subject to a condition subsequent
6.2. Grantor must assert right of entry to regain holding.
6.2.1. if no reentry, grantee owns subject to condition
6.2.2. can only be retaken by grantor and heirs
6.2.3. Assertion of right of entry begins statute of limitations accrual.
6.3. Uses language of
6.3.1. Provided that
6.3.2. But if
6.3.3. on condition that
6.3.4. provided however