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P - Future Interest (:warning:gives legal right and liabilities to the…

- - - - :warning: is a remaining future interest in the owner or his heirs when carves out of his estate a determinable estate of the same quantum
        
        when effective automatic to grantor
    - - :warning:When an owner transfers an estate subject to condition subsequent and retains the power to cut short or terminate the estate.
        
        grantor has to reentry
    - - :warning:an interest left in the owner when he carves out and transfers a vested estate of a lesser quantum than that of the vested estate which he has.
        
        Hierarchy: 1.FS/DF 2.FT 3.LE 4.TY/LH
        
        Hint: FT, LE, TY/LH
        
        When 2 hierarchies being used that are not FS = always look to result of last one to see if REV. LE then to FT = FT is Rev
        
        :red_flag:When Part 2 is CR or VR = can Part 2 be a REV or a REV not certain to become poss.
        
        :red_flag:When Part 2 is EI = can Part 1 be a REV
  - - - :warning:is a future interest that is capable of becoming possessory at the termination of the prior estate and if it is then vested.
        
        Contingent R
        
        :warning:given to a:
        1.uncertained person
        
        or made contingent upon some event occurring.
        
        can also be an alternative cont. R. (C)
        
        Hint: and if
        
        Hint: LE = 1st future interest CR + 2nd future interest CR
        
        Vested R
        
        :warning:it is created in an
        
        ascertained person
        
        and is ready to become poss. whenever and however all preceding estates expire.
        
        indefefeasibly vested
        
        remainder certain to become poss.
        
        :red_flag:when part 2 is FSA and no condition precedent= REV is divested = R certain to have poss.
        
        Vester R in FS subject to divestment
        
        There is a Vested R but there is also another shifting executory interest (C) that can divest it.
        
        HInt: But if
        
        Hint: LE = 1st future interest VR + 2nd future interest has to be Divesting EI
        
        Class of persons
        
        V subj to open
        
        one member of the class is ascertained
        
        V subj to partial divestment
        
        later named members are entittled to share gift
    - - :warning:future interest in a transferee
        
        :warning:Shifting EI: divests or cut short some interest in the transferee
        
        FSSCS
        
        O has ROE
        
        C has EI
        
        FSD
        
        :red_flag:Statute of Uses R cannot follow a vested fee simple
        
        :warning: Springing EI: divest the transferor in the future.
      - :red_flag:For estates that start w/ FSA OR VR in FS subj to divestment
- - - - :warning:A legal R in land is destroyed if it does not vest - at or before - the termination of the preceding freehold estate
        
        To A LE, then to B and her heirs CR if B reaches 21
        = B CR destroyed
        
        Merger: when first interest merges estate to another estate and the lesser estate is merged into the larger
        
        :red_flag:for VR OR CR
        
        Forfeiture = A conveys
    - - :warning:if one instrument creates a LE in land in A, and purpots to create a R in persons described as A's heirs or heirs of A's body and both are legal or equittable
        
        To A LE, the to A's heirs
        
        the R becomes a FS or FT in A
        
        Merger: rule can apply
        
        :red_flag:cannot have an intervening LE
    - - :warning:When there is an intervivos conveyance of land by a grantor to a person and the grantor puts a limitation by a R or EI in its own heirs then no future interest is created = a REV is created.
        
        O coveys to A LE, then to O's heirs
        
        R is void and O has rev
    - - Step 1: Is it a CR, EI. or class gift
      - Step 2: Will it vest w/in 21 years
      - Step 3: Will it vest or terminate no later than 21 years after the death of some person alive at the creation of the interest?
        
        or within the life or death of a person connected to the interest
        
        cannot be a validating life if cannot prove w/in 21 years interest is vested
        
        when def does not vests or vests w/in 21 years = violates RAP and remaining interest stands. pencil crosses out that part
        
        violates RAP when no comma in FSSC W/ EI
      - The Rule will apply if the R vests too far away or cannot prove that it will vest w/in 21 days
      - Interest in the grantee