6-4.6 – Definition of a Right of Reacquisition
§ 6-4.6 Definition of a right of reacquisition A right of reacquisition is the future estate left in the creator or in his successors in interest upon the simultaneous creation of an estate on a condition subsequent.
6-3.1 – Estates in Possession and Future Estates
§ 6-3.1 Estates in possession and future estates Estates in property, as to the time of their enjoyment, are classified as estates in possession and future estates.
6-3.2 – Kinds of Future Estates
§ 6-3.2 Kinds of future estates (a) Future estates are divided into: (1) Estates left in the creator, consisting of: (A) Reversions. (B) Possibilities of reverter. (C) Rights of reacquisition. (2) Estates in favor of a person other than the creator, namely remainders, that are: (A) Indefeasibly vested. (B) Vested subject to open. (C) Vested […]
6-1.1 – Estates Classified
§ 6-1.1 Estates classified (a) Estates in property as to duration are classified as follows: (1) Fee simple absolute. (2) Fee on condition. (3) Fee on limitation. (4) Estates for life. (5) Estates for years. (6) Estates from period to period. (7) Estates at will. (8) Estates by sufferance.
6-1.2 – Estates Tail Abolished; Future Estates Limited Thereon
§ 6-1.2 Estates tail abolished; future estates limited thereon Estates tail have been abolished, and every estate which would be a fee tail, according to the law of this state as it existed before the twelfth day of July, seventeen hundred eighty-two, shall be a fee simple; and if no valid future estate is limited […]
6-1.3 – When Estate for Life of Third Person Is Real Property; When Personal Property
§ 6-1.3 When estate for life of third person is real property; when personal property A disposition of real property for the life of a third person, whether limited to heirs or otherwise, is real property only during the life of the grantee or devisee; after his death it is personal property.
6-2.1 – Estates in Severalty, Joint Tenancy, Tenancy by the Entirety and in Common
§ 6-2.1 Estates in severalty, joint tenancy, tenancy by the entirety and in common Estates as to the number of persons owning an interest therein are classified as follows: (1) In severalty. (2) Joint tenancy. (3) Tenancy in common. (4) Only as to real property and, on and after January first, nineteen hundred ninety-six, as […]
6-2.2 – When Estate Is in Common, in Joint Tenancy or by the Entirety
§ 6-2.2 When estate is in common, in joint tenancy or by the entirety (a) A disposition of property to two or more persons creates in them a tenancy in common, unless expressly declared to be a joint tenancy. (b) A disposition of real property to a husband and wife creates in them a tenancy […]