Real Property — Comprehensive Outline

Real Property: MBE Outline

Ownership and Estates

Present Estates

• Fee Simple Absolute: Absolute ownership of potentially infinite duration.
• Fee Simple Determinable: Terminates automatically upon the happening of a stated event; future interest is a Possibility of Reverter. Tip: Look for durational language (e.g., "so long as," "until").
• Fee Simple Subject to Condition Subsequent: Grantor reserves the right to terminate upon the happening of a stated event. Tip: Must explicitly state the right of entry (e.g., "provided that," "but if").
• Life Estate: Measured by the life of a person; holder must avoid waste (voluntary, permissive, or ameliorative).

Future Interests

• Reversion: Future interest held by the grantor following a life estate or fee tail. *