Explore the legal terms and concepts related to Present Possessory Estates. Click on any term below to learn more about its definition and applications.
How is a fee simple subject to condition subsequent created?
A fee simple subject to condition subsequent is created by words of condition, such as "upon conditi...
How is a fee simple determinable created?
A fee simple determinable is created by durational language such as "for so long as," "while," "duri...
What is a defeasible fee?
A defeasible fee is a fee simple estate that can be terminated when a stated event occurs.
What is a fee simple absolute?
The fee simple absolute is the largest estate recognized by law, and can be sold, divided, devised,...
What are the present possessory estates?
Present possessory estates include: (1) fee simple absolutes, (2) various defeasible fees, (3) fee t...
In assessing a present possessory estate, what is ameliorative waste?
Ameliorative waste is an improvement made to a life estate property that benefits the property econo...
In assessing a present possessory estate, what is permissive waste?
Permissive waste occurs when a life tenant breaches their duty or obligations to maintain a property...
In assessing a present possessory estate, what is affirmative waste?
Affirmative waste is the exploitation of natural resources by a life estate holder, and is generally...
What rights and duties do the holder of a life estate have?
The holder of a life estate is entitled to any ordinary uses and income or profits of the land, but...
What is a life estate pur autre vie and how is it created?
A life estate pur autre vie is measured by the life of another, and can be created where a life tena...
What happens when a life estate holder renounces his interest?
The future interest accelerates and becomes immediately possessory.
What is a fee tail, how is it created, and what is the result of its creation in most jurisdictions today?
A fee tail is a fee in which inheritability is limited to lineal descendants, and is created by the...
What is a fee simple subject to executory interest?
If a fee simple terminates upon the happening of a stated event and passes to a third party rather t...
What will a court do if it is not clear whether someone intended to create a fee simple determinable or subject to condition subsequent?
Where it's unclear whether someone intended to create a fee simple determinable or subject to condit...
What are the 3 types of waste a life estate holder may commit?
1. Affirmative Waste 2. Permissive Waste 3. Ameliorative Waste
What is a life estate?
A life estate is a present possessory estate measured by the life of a person or lives of people.
