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Question 1
Jerry conveys his apartment "to George for life." George then conveys the apartment "to Kramer, in fee simple absolute." What interest does Kramer have in the apartment?
Correct
Incorrect!
Correct
Incorrect!
Correct George tried to convey the apartment to Kramer in the widest possible terms (fee simple absolute is the highest ownership interest in land that there is). However, he cannot convey more than he owns. When Jerry gave George the life estate, the estate that George got lasts until George's death. Therefore, Kramer, who steps into George's shoes, takes over as the life tenant with George remaining the measuring life. Therefore C is the correct asnwer.
Incorrect! George tried to convey the apartment to Kramer in the widest possible terms (fee simple absolute is the highest ownership interest in land that there is). However, he cannot convey more than he owns. When Jerry gave George the life estate, the estate that George got lasts until George's death. Therefore, Kramer, who steps into George's shoes, takes over as the life tenant with George remaining the measuring life. Therefore C is the correct asnwer.
Correct
Incorrect!
Question 2
Jerry conveys his apartment "to George for life, so long as no wild parties are held in the apartment." Jerry regains the apartment...
Correct
Incorrect!
Correct
Incorrect!
Correct
Incorrect!
Correct This language creates a conditional life estate that is analogous to the fee simple determinable. Therefore, it will end automatically if there is a wild party at the apartment. Otherwise, the life estate will continue until its duration is up, namely, until George dies. Therefore D is the correct answer.
Incorrect! This language creates a conditional life estate that is analogous to the fee simple determinable. Therefore, it will end automatically if there is a wild party at the apartment. Otherwise, the life estate will continue until its duration is up, namely, until George dies. Therefore D is the correct answer.
Question 3
Roper owns an apartment building. He sells an apartment "to Jack, so long as he does not sell it to anyone without allowing Roper the chance to buy it first for its fair market value." Is this condition valid?
Correct
Incorrect!
Correct Although restraints on alienation are disfavored, reasonable restraints are allowed. A "right of first refusal," which allows the seller first crack at buying it back if the buyer ever wants to sell it is a valid partial restraint. Therefore B is the correct answer.
Incorrect! Although restraints on alienation are disfavored, reasonable restraints are allowed. A "right of first refusal," which allows the seller first crack at buying it back if the buyer ever wants to sell it is a valid partial restraint. Therefore B is the correct answer.
Correct
Incorrect!
Correct
Incorrect!
Question 4
Jerry conveys his apartment "to George for life, and then to Kramer for life and then to Elaine." Kramer then sells his interest in the apartment to Newman. Kramer dies while George is alive. When George dies, who will get the apartment?
Correct Kramer could only transfer the interest that he owns in the apartment. In this case, Kramer received a remainder interest after George that was to end at his death. Thus, when Newman got the apartment from Kramer, he only received a life estate pur autre vie with Kramer as the measuring life that was only to take effect at George's death. Since Kramer died while George was alive, Kramer's interest never did vest and never will vest. Therefore, Newman never gets the property and it goes to the holder of the remainder interest after George. In this case, that is Elaine and A is the correct answer.
Incorrect! Kramer could only transfer the interest that he owns in the apartment. In this case, Kramer received a remainder interest after George that was to end at his death. Thus, when Newman got the apartment from Kramer, he only received a life estate pur autre vie with Kramer as the measuring life that was only to take effect at George's death. Since Kramer died while George was alive, Kramer's interest never did vest and never will vest. Therefore, Newman never gets the property and it goes to the holder of the remainder interest after George. In this case, that is Elaine and A is the correct answer.