Property

Okay I also realized that I posted some answers to questions about the assignment on my natural resources page instead of my property page, confusing them and leaving you guys uninformed. Shouldn’t affect people too much. I did reply to the individuals and posted on facebook. I will be doubly careful about this in the future

Q: Is there a format you would like us to adhere to other than what is shown in the book?

A: Nope.. just follow the instructions in the book and in the assignment description I posted

Q: What is the format of this assignment? –Single-spaced or double-spaced –Page limit

A: I have no opinion about spacing or details about formatting. Pick something that looks professional and useful. No rules about page limit either. Whatever you think would make sense for the task. Part of the goal of these exercises is get you to start thinking and working with different types of legal documents. Half a page is probably too short to be really useful, but 10 pages would be equally problematic because it could get hard to navigate so many pages of notes.

Q: The revised syllabus tells us to turn in Assignment #3 via email. However, the descriptions on the Property Website and UB Learns tell us to turn in the assignment via UB Learns. Which is it? Assignment #3 does not have a link on UB Learns like Assignment #1 did.

A: Sorry that was an oversight on my part. You should submit it on UB Learns. There should indeed be a link to submit it just like #1 did. It took me an extra day to set it up correctly so if you looked on Monday or Tuesday it might not have shown up as a link but should be there now. Let me know if you have continued problems. If you have already submitted via email, please also submit via UBLearns

Q: Is this assignment anonymously graded; do we don the Sheldon Stannage alias again?

A: Yes this is anonymously graded so you can use the Sheldon Stannage alias or make up a new name if you like.

Q: Question, can you sign and have notarized your stock transfer power, but then hold onto it so it does not go into effect until it is turned in, especially in regards to present transfer of future interest? Or does it legally go into effect the minute it is signed and notarized, making it illegal to still collect the dividend payment on it? Or in regards to present transfer of future interest, does the stock power transfer even need to be filled out, or can the usual ways of giving a gift satisfy transferring stock? Essentially, even if the Stock Transfer Power is never filled out, the donee can still get rights to the Stock depending on when the future interest goes into effect. I guess I am just wishing I knew more about the laws surrounding the transfer of stock because that is where I keep getting caught up writing this assignment. I feel like I am giving illegal advice, but I am not even sure what is and what isn’t illegal.

A: Frankly, I don’t know much about the stock transfer power either. Some of these questions you can figure out from the problem, from some research (but don’t spend 100 hours on it), and being frank with you client about where you might need more information or what your next steps need to be.

Syllabus 030916

Prop 16 Class 10

Prop 16 Class 9

Right click on file link and select ‘Save Target As’ or ‘Save Link As’ to save the file to your computer.

Owley3-9-16

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1. From Courtney to Peter and his heirs.
   1. What does Courtney have? Nothing
   2. What does Peter have? A Fee Simple Absolute
   3. What do his heirs have? Nothing. They don’t exist yet.
2. From Christian to Rosalie for life and then to Mary and her heirs
   1. What does Christian have? Nothing
   2. What does Rosalie have today? Life estate
   3. What does Mary have today? An Indefeasibly Vested Remainder 
   4. What will Mary have when her interest becomes possessor y? Fee Simple Absolute. So the best label for her future interest is “an indefeasibly vested remainder in fee simple absolute”
3. From Nathan to Qing in life estate.
   1. What does Qing have? A life estate
   2. What does Nathan have? A reversion (in fee simple absolute)
4. From Jaela to Dominic until he dies.
   1. What does Dom have? A Life estate.
   2. What does Jaela have? A reversion (in fee simple absolute)
5. From David to Theresa and her heirs provided that Buffalo does not win the Superbowl, then Jairo shall have the right to renter and retake the estate
   1. What does Theresa have? Fee Simple Subject to an Executory Limitation
   2. What does Jairo have? Executory Interest (shifting because if he gets the land, he will get it from Theresa, not David)
   3. What does David have? Nothing
6. From Martha to Adelina for life, then to Andy and his heirs
   1. What does Adelina have? life estate
   2. What does Andy have now? remainder (indefeasibly vested remainder in fee simple absolute)
   3. What will Andy have when his interest becomes possessory? fee simple absolute
   4. What does Martha have? nothing
7. From Matt to Elise for her use during her lifetime, then to Matt’s heirs
   1. What does Elise have? life estate
   2. What does Matt have? this is a trick question in some ways… if Matt dies before Elise, we will know who is heirs are and the land can pass to them. BUT is Elise dies first, Matt doesn’t have any heirs and the property can’t just go to them, so it has no choice but to go back to Matt (when the conveyance doesn’t have a place for it to go, back it goes to Matt)
   3. What do Matt’s heirs have? contingent remainder (we can’t yet ascertain who they will be). Once Matt dies, they will have a indefeasibly vested remainder because we will be able to ascertain who they are and we know they will get the property when Elise dies.
8. From Lim to Kayla for 99 years
   1. What does Kayla have? A term estate (for 99 years)
   2. What does Lim have? A reversion in fee simple absolute (she will get it back in 99 years)
9. From Doug to Jordan for Sam’s life, then to Tyleana for life, then to Elena and her heirs
   1. What does Jordan have? Life Estate per autre vie (with Sam as the measuring life)
   2. What does Sam have? nothing
   3. What does Tyleana have today? an indefeasibly vested remainder (in life estate)
   4. What will Tyleana have when her interest becomes possessory? life estate
   5. What does Elena have today? an indefeasibly vested remainder (in fee simple absolute)
   6. What will Elena have when her interest becomes possessory? fee simple absolute
   7. What does Doug have? nothing
   8. What id Tyleana dies before Sam? property just goes straight to Elena
10. From Jordan to Nate for life, then to Tim
    1. What does Nate have? life estate
    2. What does Tim have today? indefeasibly vested remainder (in fee simple absolute)
    3. What will Tim have when his interest becomes possessory? fee simple absolute
    4. What does Jordan have? nothing
11. From Ian to Jake
    1. What does Jake have? fee simple absolute
    2. What does Ian have? nothing
12. From Amanda to Shazia for Allyson’s life
    1. What does Shazia have? life estate per autre vie 
    2. What does Amanda have? reversion in fee simple absolute
    3. What does Allyson have? nothing (she is just the measuring life)
13. From Tabitha to Gabrielle and the heirs of her body
    1. What does Gabrielle have under the common law? fee tail
    2. What are the two modern interpretations of the rule?
       1. Life estate in Gabrielle followed by fee simple absolute in her heirs
       2. Fee simple absolute for gabrielle
    3. What does Tabitha have under each of the three rules above?
       1. under fee tail: she has a reversion. under the others, she has nothing
14. From Haley to Sam until someone does a remake of the Godfather
    1. What does Sam have? fee simple determinable
    2. What does Haley have? possibility of reverter
15. From Allie to Jamie but if poetry books are sold on the premises, then Allie has the right to re-enter and retake the estate
    1. What does Jamie have? fee simple subject to a condition subsequent
    2. What does Allie have?  right of re-entry
16. From Sam to her pet dog for ever and ever.
    1. What does Sam’s dog have? Nothing – this is invalid
17. From Ben to Donell so long as the estate is not used as a bar
    1. What does Donell have? fee simple determinable
    2. What does Ben have? possibility of reverter
18. From Beth to Francis for as long as Francis lives.
    1. What does Francis have? life estate
    2. What does Beth have? reversion in fee simple absolute
19. From Lauren to Tristan and his heirs, but if Lauren is alive at Tristan’s death, Lauren shall have the right to re-enter and retake the estate
    1. What does Tristan have? fee simple subject to condition subsequent. It looks like a life estate but he gets a prize of fee simple absolute if he outlives her
    2. What does Lauren have?  right of re-entry
20. From Anna to Charlie and his heirs so long as Charlie does not marry, but if he does, then Anna shall have the right to re-enter and retake the estate.
    1. What does Charlie have? So many tricky things here! Assuming Charlie is not married: This looks like a prohibition on marriage. Some jurisdictions actually find that to be against public policy and will hold such a restriction to be void (don’t worry, I didn’t expect you to know that). That means we cross out the restriction and give Charlie a fee simple absolute. If we are in a jurisdiction that allows such a restriction, we end up with a conveyance that looks kinda like a fee simple determinable (as the magic words “so long as”) and it looks like a fee simple subject to condition subsequent because it identifies a right of re-entry. What should we do with something like this? The modern trend is to prefer the fee simple subject to a condition subsequent, but you would need to look to the presumption in your jurisdiction. If there is no presumption, we would want to best embody the intent of the grantor and I think that looks like a fee simple condition subsequent because of the specific mention of the right to re-enter and retake.
    2. What does Anna have? depends on the answer above. If the prohibition on marriage is void for public policy, Charlie ended up with FSA and Anna has nothing. If we interpret it as a fee simple determinable (the least likely result), she gets a POR. If we interpret it as a fee simmple subject to a condition subsequent, she has a right of re-entry,

1. O wants to give his land to his only child, but O wants the land to stay in the family forever. How should he proceed?

2. O wants to sell her property for the highest possible price. How should she proceed?

3. O wants to give his land to A, but he wants the land back if it is used for commercial purposes. Can he do so? How?

4. O wants to give her land to her husband until he dies. Can she do so? How?

5. O wants to give her land to her church as long as it is used for church purposes, but if the land ceases to be used for church purposes, then O wants to be able to take back the property. Can she do so? How?

6. O wants her friend A to have a FSA.

7. O wants A to have a fee simple almost – just doesn’t want the land to ever be used for commercial purposes

8. O wants her son to have the land until he dies and then she wants the land to come back to her

9. O wants her son to have the land until he dies and then she wants the land to go to her daughter.

10. O wants her son to have the land until he dies and then she wants the land to go to her daughter unless her daughter got married before then.

Right click on file link and select ‘Save Target As’ or ‘Save Link As’ to save the file to your computer.

Owley3-7-16

Or listen to the audio in the browser here:

If you go to the Property home page on UBLearns and scroll down you will see a box titled “What’s New” you will see a hyperlink for assignments, click on that and the hyperlink for assignment #3 Gifts will be there.