PROPERTY A SLIDES 3 x 5 = 15 Thursday March 5 Music: Isaac Stern, 60 th Anniversary Celebration...

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Transcript of PROPERTY A SLIDES 3 x 5 = 15 Thursday March 5 Music: Isaac Stern, 60 th Anniversary Celebration...

  • PROPERTY A SLIDES3 x 5 = 15

  • Thursday March 5 Music: Isaac Stern, 60th Anniversary Celebration (1981) New York Philharmonic Orchestra; Violins:Isaac Stern, Itzhak Perlman, Pinchas Zucherman1982 Grammy Award for Best Classical Performance (Soloists with Orchestra)

    Very Last Lunch Today: Meet on Brix @ 11:55 Ahmed * Fellig *Powell Yellowstone Critique Due Today @ 10 a.m.

  • Review Problem 3D (S64-65) (Capacity)Shenandoah= Ps (A & B)Melendez, LauraChen, Connie Steckler, SteveHalperin, DanielUsman, SarahAlternate: Mason, Joanne

    Redwood = Defendant MMSGanase, KetanWhitley, DexterCorrales, BrendaAhmed, FerasEngstrom, DaveAlternate: Fellig, Zevi

  • Critique of Review Problem 3D (Capacity: Biscayne)General Instructions @ Bottom of Assignment SheetYou are critiquing Capacity arguments made in class today. (as opposed to other issues in the Problem)Plaintiff = Arguments that K lacked capacity/will is invalidDefendant = Arguments K had capacity/will is validWritten Submission Due by E-Mail Sat 3/7 @ 10 a.m.E-Mail me if Qs

  • Review Problem 3D (S64-65) (Capacity) Shenandoah= Ps (A & B) Redwood = Defendant MMS

    Evidence of Capacity/Incapacity GenerallyEvidence from Before the Day of Will Signing Ceremony & Surrounding Circumstances Evidence from the Day of the Ceremony

  • Review Problem 3D (S64-65) (Capacity) Shenandoah= Ps (A & B) Redwood = Defendant MMS

    Application of Traditional Three-Part Test

    Natural Objects of Her Bounty: Evidence/Qs Here?Nature/Extent of Her Property: Evidence/Qs Here?Nature of Disposition: Evidence/Qs Here?

  • Mahrenholz v.County Board

  • Tomorrow: ARCHES: DQ4.05Mahrenholz Major EventsDELICATE ARCHES

  • Tomorrow: BISCAYNE: DQ4.11Violation of School Purposes Condition?SUNRISE AT ADAMS KEY

  • Vested v.ContingentRemainders Continued

  • VESTED REMAINDERGrantee is living ascertainable person ANDClause creating the remainder contains no condition on grantee taking the property except expiration of prior estateExample: To Aaron for life, then to Oona and her heirs.

  • CONTINGENT REMAINDERGrantee is presently unborn or unascertainable *OR*Clause creating the remainder contains a condition on grantee taking the property Examples from Tuesday:To Fred for life, then to Freds firstborn child. If F has never had a child: UnbornTo Fred for life, then to Freds oldest child living at Freds death.While F is alive: Unascertainable

  • REMAINDERS: EXAMPLESTo Fred for life, then to Wilma and her heirs if Dino survives Fred.Fred has Life EstateInterest in WilmaFollows Life Estate, so its a RemainderCondition must be met before Wilma can take, so Remainder is Contingent.

  • Contingent v. Vested Remainders:Memory/Comprehension Aids Meaning/Derivation of Vested RightClearly Established Right thats Hard to UndoE.g., Vested Employee BenefitsDerivation: Putting on Robes of Office (Investment)Analogy: Vested Remainder Theater Ticket Contingent Remainder Lottery Ticket

  • Life Estate + Vested Remainder To Fred for Life, then to Wilma and her heirs.

  • Life Estate + Contingent RemainderBarney to Fred for Life, then to Wilma and her heirs if Dino survives Fred.

    Ill Show Contingency by Drawing Dotted Line, Off of the Primary Time Line, that Begins at the End of the Finite Estate

  • Life Estate + Contingent RemainderBarney to Fred for Life, then to Wilma and her heirs if Dino survives Fred.

    What happens to property when Fred dies if Dino doesnt survive Fred? Someone must get it!

  • Life Estate + Contingent RemainderBarney to Fred for Life, then to Wilma and her heirs if Dino survives Fred.

    What happens to property when Fred dies if Dino doesnt survive Fred? If grant doesnt distribute some of the available rights, then those rights are retained by the grantor.

  • Life Estate + Contingent Remainder

  • REMAINDERS IN :To Fred for life, then to Wilma for life. Wilma has a vested remainder in life estate

    To Fred for life, then to Wilma and her heirs if Dino survives Fred. Wilma has a contingent remainder in fee simple absolute

  • TERMINOLOGY: ME v. WORKBOOKWorkbook: Describes all present possessory estates (Fee Simple Absolute, Life Estate, etc.) as a Possessory Estate in

  • TERMINOLOGY: ME v. WORKBOOKWorkbook: Describes all present possessory estates (Fee Simple Absolute, Life Estate, etc.) as a Possessory Estate in My Test Questions: Will not use the italicized phrase.

  • TERMINOLOGY: ME v. WORKBOOKWorkbook: Describes all present possessory estates (Fee Simple Absolute, Life Estate, etc.) as a Possessory Estate in Maybe there to help you remember important rule: You can have only one present possessory estate at any given time with respect to a particular parcel of land.

  • TERMINOLOGY: ME v. WORKBOOKWorkbook: Adds language to define nature of future interests in grantor. E.g., Reversion in Fee Simple AbsolutePossibility of Reverter in Fee Simple Absolute

  • TERMINOLOGY: ME v. WORKBOOKWorkbook: Adds language to define nature of future interests in grantor. E.g., Reversion in Fee Simple AbsolutePoss. Of Reverter in Fee Simple AbsoluteMy Test Questions: Only will add this sort of language for remainders

  • SHENANDOAH (Problems 4A-4E)APPALACHIAN TRAIL

  • Shenandoah: (4A) O conveys Baconacre "to Mayer and her heirsMayer's only child, Armour, runs up large bills. Can Armour's creditors reach any interest of Armour in Baconacre?

  • Shenandoah: (4A) O conveys B-Acre "to Mayer and her heirsPoint of 4A is meaning of and her heirs Clarifies that M has a Fee Simple Creates no interest in anyone else Presumptive heirs have a mere expectancy

  • Shenandoah: (4A) O conveys Baconacre "to Mayer and her heirsMayer wishes to sell Baconacre and use the proceeds to take a trip around the world. Can Armour prevent Mayer from doing this?

  • Shenandoah: (4B) Kermit to Ernie for life, then to Burt forever. (Common Law)Ernie?

  • Shenandoah: (4B) Kermit to Ernie for life, then to Burt forever. (Common Law)Ernie: Life Estate

    Burt: ?

  • Shenandoah: (4B) Kermit to Ernie for life, then to Burt forever. (Common Law)Ernie: Life EstateBurt: Vested Remainder Remainder b/c Follows Life Estate Vested b/c Burt is Named (so Living & Ascertainable Muppet) and No Condition Precedent Vested Remainder in ?

  • Shenandoah: (4B) Kermit to Ernie for life, then to Burt forever. (Common Law)Ernie: Life EstateBurt: Vested Remainder in Life EstateAt Common Law To Create Fee Simple Interest, need and his Heirs.Without language indicating fee simple, default estate is Life Estate.

  • Shenandoah: (4B) Kermit to Ernie for life, then to Burt forever. (Common Law)Ernie: Life EstateBurt: Vested Remainder in Life Estate

    Who Owns the Rest (rights to property after both Ernie & Burt are dead)?

  • Shenandoah: (4B) Kermit to Ernie for life, then to Burt forever. (Common Law)

    Ernie: Life EstateBurt: Vested Remainder in Life EstateKermit: Reversion (in Frog Green!)Follows finite interest if not explicitly granted to someone elseState of the Title When Ernie Dies?

  • Shenandoah: (4B) Kermit to Ernie for life, then to Burt forever. (Common Law)Burt: Life EstateKermit: (retains) Reversion

    When Burt Dies?

  • Shenandoah: (4B) Kermit to Ernie for life, then to Burt forever. (Common Law)Kermit (or Kermits Successors) have Fee Simple Absolute

  • Shenandoah: (4B) Kermit to Ernie for life, then to Burt forever. (Common Law)

    Ernie: Life EstateBurt: Vested Remainder in Life EstateKermit: Reversion

  • Shenandoah: (4B) Kermit to Ernie for life, then to Burt forever. (TODAY)Ernie: Life Estate

    Burt: ?

  • Shenandoah: (4B) Kermit to Ernie for life, then to Burt forever. (TODAY)Ernie: Life EstateBurt: Vested Remainder in Fee SimpleDefault Estate Today is Fee SimpleKermit?

  • Shenandoah: (4B) Kermit to Ernie for life, then to Burt forever. (TODAY)Ernie: Life EstateBurt: Vested Remainder in Fee SimpleKermit: Nothing (not easy being green)State of the Title When Ernie Dies?

  • Shenandoah: (4B) Kermit to Ernie for life, then to Burt forever. (TODAY)Burt: Fee Simple AbsoluteWhen Burt Dies?

  • Shenandoah: (4B) Kermit to Ernie for life, then to Burt forever. (TODAY)Burt: Fee Simple AbsoluteWhen Burt Dies?Property passes by Burts will or through intestacy to Burts heirs.

  • Shenandoah: (4C) Elmer to Sylvester for life, then to Bugs and his heirs.Sylvester: ?

  • Shenandoah: (4C) Elmer to Sylvester for life, then to Bugs and his heirs.Sylvester: Life EstateBugs:?

  • Shenandoah: (4C) Elmer to Sylvester for life, then to Bugs and his heirs.Sylvester: Life EstateBugs: Vested Remainder in Fee Simple [Absolute]Bugs dies intestate without heirs. What Effect?

  • Shenandoah: (4C) Elmer to Sylvester for life, then to Bugs and his heirs.Sylvester: Life EstateBugs: Vested Remainder in Fee Simple Bugs dies intestate without heirs. Vested Remainder passes to State by Escheat (like rest of Bugss property)Sylvester Dies: What Effect?

  • Shenandoah: (4C) Elmer to Sylvester for life, then to Bugs and his heirs.When Bugs died intestate without heirs, Vested Remainder passed to State by Escheat.When Sylvester dies, Vested Remainder becomes Fee Simple. So: State has Fee Simple Absolute

  • Shenandoah: (4D) Mickey to Minnie for life, then to Pluto for 99 years. Minnie?

  • Shenandoah: (4D) Mickey to Minnie for life, then to Pl