testate with a will - beneficiary someone who receives personal prope...

fee simple absolute Flashcards beneficiarysomeone who receives personal property through a will or trust smallest estatelife estate (LE) primogenitureeldest son inherits, subject to mother's right to downer collateral kingrandparents, siblings, aunts, uncles, cousins, etc.leasehold estatesan asset in realty held under a lease with the owner of the freehold estate (or other lessees in the case of a sublease) testatewith a will issuedescendants (children, grandchildren, etc.) intestatewithout a will per stirpesby representation; children stand in the shoes of a deceased parent seisinpossession of real property under a freehold estate future interest for life estatereversion or remainder testatorperson who died with a will characteristics of a fee simpleconveyable (can be sold or gifted during life), devisable (passed through a will), descendable (by operation of law when no will and passed to state by statute if no will) types of distributionprimogeniture, per stirpes, per capita heirspersons who survive the decedent and are designated as intestate successors under the state's Statute of Descent and Distribution general rules (2 parts)every estate, except the FSA, must be followed by a future interestevery conveyance must end up in someone's hand as a FSA decedentdeceased person defeasible fees includefee simple determinable (FSD), fee simple subject to condition subsequent (FSSCS), fee simple subject to executory limitation (FSSEL) future interest for fee simple subject to executory limitationexecutory interest future interest for fee simple subject to condition subsequent right of entry largest estatefete simple absolute (FSA) future interest for fee simple determinable possibility of reverter freehold estatesestates free from the hold of anyone except the owner and held for an uncertain duration; owner has all property rights of use, possession, disposition and exclusion (as limited by law or agreement) ancestorsparents future interest for fee tailreversion or remainder

escheatthe state intestate succession, order of inheritance generally:issue (and/or) spouse, ancestors, collateral kin, escheat deviseepass real estate through a will, someone who receives real estate through a will