1. List and explain three types of will substitutes that we discussed in class and that is valid in Delaware. Your answer should include a description of each type of will substitute and discuss the benefits and any possible detriments of each substitute.

2. Sarah conveys by deed her lake cottage to "Mike for life, then to Betty for 20 years, then to Kathy and her heirs."

What kind of estate does Mike have?

b. Who receives the property when Mike dies?

c. If Betty dies before Mike, who receives the property on Mike's death?

d. Does Sarah have a visionary interest in the property? Why or why not?

e. What interest does Kathy hold?

f. Who are the two remaindermen in this conveyance?

3. I am thinking of purchasing a beach condominium with a group of ten friends. Should we purchase it as tenants in common or joint tenants with the right of survivorship? Why? Your answer should discussthe key differences between a joint tenancy with the right of survivorship anda tenancy in common, the requirements for the creation of each, and the advantages and disadvantages of each.