Hypo 1

Leroy transfers real estate he owns using the following language: "To my son, Steve, for life, then to Steve's children. If Steve dies childless, then the property returns to my estate."

Q1: What type of interest does Steve have in the land?

1. Steve takes the land in fee simple absolute because after Leroy dies, Steve is free to do whatever he wants with the land.
2. This is a determinable fee because the land moves from Steve to his children (if he has any) upon the happening of a future event, that event being Steve's death.
3. Steve has no interest in the land because he only possesses it for the purpose of passing it along to someone else.
4. This is a life estate because Steve's interest in the land terminates when he dies.

Q2: Leroy transfers real estate he owns using the following language: "To my son, Steve, for life, then to Steve's children. If Steve dies childless, then the property returns to my estate." What kind of interest do Steve's unborn children have? There are multiple correct answers. Choose all that apply.

1. They'd own the land in fee simple absolute because there are no additional conditions placed on their interest in the land.
2. They have a remainder interest because they'd be the third-party grantees after Steve's life estate is terminated.
3. They have a contingent interest because their interest is contingent upon them being born.
4. Their interest is reversionary because the land goes back to Leroy after Steve dies.