Prof. Whitman, perhaps I missed it, but I think the slides skipped over reason #4 why a F.I. owner might never possess the land. The reasons listed, as I've noted them, are: #1 F.I. owner might die before F.I. becomes possessory; #2 inter vivos transfer of the F.I.; #3 F.I. fails; and #5 common law rule violation.
In example "To A for life, then to B when B graduates," by graduating before A dies, B could cut short A's life estate. Doesn't this violate one of the rules for Remainders?
I think you are misconstruing the grantor's intent. The conveyance says "To A for life." There's no indication that anything B does can cut short A's life estate. After A dies, we look to see if B has graduated. If so, B gets immediate possession. If not, we wait to see if B graduates later. If and when B graduates, B gets possession of the land. There's potentially a time gap here, but it's not what I call a "built-in" time gap -- i.e., one that is certain to occur. There may or may not be a time gap, depending on when B graduates. That's not enough to make the future interest an executory interest. It is simply a contingent remainder until B graduates. If B graduates while A is still living, it becomes a vested remainder at that point. By the way, there is no RAP problem, since B can't graduate after B is dead (at least at any college I'm familiar with), and B is a life in being. B's interest is certain to vest or fail within B's own life.
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Prof. Whitman, perhaps I missed it, but I think the slides skipped over reason #4 why a F.I. owner might never possess the land. The reasons listed, as I've noted them, are:
#1 F.I. owner might die before F.I. becomes possessory;
#2 inter vivos transfer of the F.I.;
#3 F.I. fails; and
#5 common law rule violation.
P. J. -- you have a sharp eye! The number "5" is a typo, and there are really only four reasons listed. Thanks for catching this. - Prof. Dale
@@profdalespropertyvideos185 Got it. Thank you, sir. ~Peter
In example "To A for life, then to B when B graduates," by graduating before A dies, B could cut short A's life estate. Doesn't this violate one of the rules for Remainders?
I think you are misconstruing the grantor's intent. The conveyance says "To A for life." There's no indication that anything B does can cut short A's life estate. After A dies, we look to see if B has graduated. If so, B gets immediate possession. If not, we wait to see if B graduates later. If and when B graduates, B gets possession of the land.
There's potentially a time gap here, but it's not what I call a "built-in" time gap -- i.e., one that is certain to occur. There may or may not be a time gap, depending on when B graduates. That's not enough to make the future interest an executory interest. It is simply a contingent remainder until B graduates. If B graduates while A is still living, it becomes a vested remainder at that point.
By the way, there is no RAP problem, since B can't graduate after B is dead (at least at any college I'm familiar with), and B is a life in being. B's interest is certain to vest or fail within B's own life.
@@fredmertzful Thank you for such a clear explanation.
So helpful