Property I Flashcards Pur Autre VieLatin meaning "for the life of another." AncestorsA person's biological forebears all the way up the line.Ancestors include parent, grandparents, great-grandparents, and ll other lineal forbears.Heirs"Heirs" are the people who inherit real property from a decedent who dies intestate (without a will). Because heirs have are determined at the time of death, living people have no heirs, only heirs apparent.Heirs are identified by statue in each state. They usually include the person's spouse and children. If no spouse or children have survived the decedent, heirs may also include grandchildren, parents, siblings, or other relatives.Fee SimpleThe largest of the nature/duration of the estate. The fee simple has no inherent ending-no ending that is built into the estate by its very "nature." The owner of the fee simple can keep the land forever, sell it or give it to someone else who can keep it forever or can devise it to someone who can keep it forever. A fee simple will not end naturally.O to A and [his or her] heirs.Bequest and BequeathTo "bequeath" is to pass personal property by will. A decedent who dies testate "bequeaths" his personal property to those named in the will. The property itself is called a "bequest." IssueA person's lineal descendants all the way down the line.Issue includes children, grandchildren, and all other lineal descendants to the point where the biological line dies out.Words of PurchaseTells you who is receiving the interest; they identify the grantee. "Purchase" here refers to a conveyance.O to A and [his or her] heirs.(to A are the Words of Purchase/fee simple) Words of LimitationTells you what kind of limitation (if any) is inherent in the estate. the kind of estate the grantee is receivingO to A and [his or her] heirs.(and [his or her] heirs are the words of limitation/fee simple) Fee TailIf O conveys an estate to A in fee tail, A possesses the land right now, but A cannot sell or give or devise the right to possession after A's death. Instead, when A dies, the land passes automatically to A's issue regardless of whether A has a will.ConveyA person "conveys" land when that person transfers it to someone else. The land can be conveyed by sale or by gift.
In either case, the transaction is a "conveyance."
EscheatIf a decedent has no heirs or devisees, the interest in land "escheats" (passes) to the state.The Term of YearsCommonly know as a lease. The term of years has less status than the other three estates. This is a non-freehold estate. It arises when an owner of one of the other varieties of estates promises to let someone else use the land for a set period of time. When that time is up, the lessor's right to use the land ends. The leaseholder cannot sell, give or devise the right to use the land beyond the lease period.Life EstateMore limited in duration than a fee tail. The owner of a life estate (the "life tenant") cannot sell, give, or devise the right to possess the land after the owner of the life estate dies.Does not pass to the owner's issue (lineal descendants) on death.Possessory EstateThe owner of the right to possess the land now, in the present Testate and IntestateA decedent dies "testate" if he dies with a will. A decedent dies "intestate" if he dies without a will.Future InterestThe owner of the right to possess the land in the future own DecedentA dead person Devise and DeviseesTo "devise" is to pass real property by will. A will does not create any interest until the testator dies.The person receiving the property is a "devisee." Devisees are beneficiaries under a will. Heirs inherit property not disposed of by a will.CollateralsAll blood relatives other than issue or ancestors. Collaterals include siblings, cousins, aunts, uncles, nieces, and nephews.