Present and Future Interests Checklist

A. Determine When the Grant becomes Effective

1. Grant made while grantor is alive? Classified immediately, or at Point in
time when transfer is irrevocable
2. Grant made under a will: Classified as of moment of death
B. Classify the Present and Future Interest
1. Present Defeasible fee Simple Held by A; Future Interest Held by Third
Party B:
i. A holds a FSSEI; B holds a shifting EI. Go to D.1.
2. Present Defeasible Fee Simple held by A; Future Interest Held by
Grantor O (express or implied)
i. FSD and P/R
1. Passage of time, Os retained interest is automatic
ii. FSSCS and R/E
1. Words indicating condition, limitation , or restriction
2. O must act to retake possession
3. Present Life Estate or Term of Years held by A; Future Interest (Express
or Implied) Held by Grantor O
i. As Life Estate / Term of Years Can Only Terminate Naturally:
1. A: ppi/ LE or TY O: REV
ii. As Life Estate / Term of Years Can be cut off Shirt of Natural
Termination
1. A: determinable L/E or TY O: Rev
4. Present Life Estate, Term of Years held by A; Future Interest Held by
Third Party B
i. As LE/TY can only Terminate Naturally:
1. A: LE/TY B: Remainder, have to see which one
ii. As LE/ TY can be cut off short of a Natural Termination:
1. A: determinable L/E B: EI
5. Present Interest held by Grantor O; Future Interest Held by B
i. O: FSSEI B: EI
C. Determine the Type of the First Remainder and Any Subsequent
Future Interests :
1. First Remainder is Held by and Individual:
i. Individual is Born, Alive, Ascertainable.
1. If No: CR
ii. Precondition that Must be Satisfied before the Individual Can
Take Present Possession of the Property:
1. If Yes, but Precondition is Not Satisfied: CR
2. If Yes: but the Precondition is Satisfied or No Precondition:
Vested Remainder
a. Can the Individuals Vested Remainder be Divested
by condition subsequent?
i. Yes: VRSTD VS
2. First Remainder is Held by a Class of Persons