9.        Owner owns Blackacre and took a mortgage from Bank of New Public (BNP) that was validly recorded. Six months later, Owner took a second mortgage from First Finance Company (FFC) that was validly recorded. Owner then failed to make mortgage payments to FFC, but Owner’s payments to BNP are current. The outstanding loan balance on each mortgage is equal. If BNP forecloses, which of the following statements is most likely to be accurate?

22.      Olson, owner in fee simple of a property with a bakery called Hot Cross Buns Bakery, creates a valid inter vivos instrument with the following language: “I give David my entire interest in Hot Cross Buns Bakery, provided that he does not use raisins in the bread.” What, if any, future interest is created by this conveyance?

5. Owen is married to Ariel and they have two children, Beth and Cal, age 3 and 4.  Owen owns Blackacre in fee simple and creates a valid will with the following language: “I grant Blackacre to my wife, Ariel, for her life; then to my daughter, Beth, for her life; then to my grandchildren who reach 21.”  Assume in the relevant jurisdiction that the common law rule against perpetuities applies to conveyances and wills and that the doctrine of destructibility of contingent remainders is abolished. After Owen’s death, the future interest in Owen’s grandchildren who reach 21 is best characterized as: 

20.       Owen owns Blueacre in fee simple and then conveys Blueacre in a valid deed using the following language: “I grant my home to Angel for life, then to Betty if Angel dies without issue from his wife Betty, but if Angel dies with issue from his wife Betty, then to Candy.” Angel never has children with Betty and dies two years after Owen’s deed. Assume in the relevant jurisdiction that the doctrine of destructibility of contingent remainders is abolished.Who owns the property after Angel’s death?

16.      John has a fee simple absolute in a lot with a flower shop called Green Shop. He conveys the following interests in a valid inter vivos conveyance: “I give Paul the Green Shop on the condition that the Green Shop continues to be operated as a flower shop and reserve my rights to the lot if Green Shop ever does not continue to be operated as a flower shop.” What is most correct statement describing Paul’s interest in the Green Shop?

18.       Janet has a fee simple absolute in a mansion in Fallville and conveys the following interests in a valid inter vivos conveyance: “I give Rebecca my mansion in Fallville for life, then to Katerina, but if my mansion is allowed to be used for anything other than a residence, then to Byron.” Assume in the relevant jurisdiction that the common law Rule Against Perpetuities and the doctrine of destructibility of contingent remainders are abolished. After the conveyance, which of the following best describes Byron’s future interest?

3. Owen is the owner of a fee simple in a mansion in the county of Somerset and makes a valid inter vivos conveyance with this language: “I, Owen, convey my mansion in the county of Somerset, to my wife, Booker, for her life, then to Booker’s children who reach age 30.” Assume in the relevant jurisdiction that the common law Rule Against Perpetuities applies to conveyances and wills and that the doctrine of destructibility of contingent remainders is abolished. Which statement must be true at the time of the conveyance?

25.      Oldie, the owner of a property with a store called Goodwill Bookstore, executed a valid grant deed using the following language: “I give the property with Goodwill Bookstore to Jason for life, then to Justin, but if the property with Goodwill Bookstore ever stops being a bookstore, then the property should go to Jennifer.” Assume in the relevant jurisdiction that the common law Rule Against Perpetuities applies to conveyances and wills and that the doctrine of destructibility of contingent remainders is abolished.Which of the following best describes what Justin has after the grant, assuming all parties named in the deed are still alive?

45.      Owen owns his home in fee simple and then conveys his home in a valid deed using the following language: “I grant my home to Adam for life, then to Betty if she graduates with a master’s degree from Northern University before she is thirty years old, but if Betty fails to graduate with a master’s degree from Northern University before she is thirty years old, then to Candy.” At a later time, Adam dies. Two days after Adam’s death, Betty, at the age of 25, graduates from Northern University with a master’s degree. Assume in the relevant jurisdiction that the doctrine of destructibility of contingent remainders applies to conveyances and wills. Which of the following best describes Betty’s and Candy’s interests in Owen’s home?

30.       Stanley owns a fee simple in Blackacre. Stanley then conveys Blackacre in a valid deed using the following language: “I grant Blackacre to my wife, Jill, for life, and then to my first son to reach the age of 21.” At the time of the conveyance, Stanley and Jill have no children.  Assume in the relevant jurisdiction that the common law Rule Against Perpetuities applies to conveyances and wills and that the doctrine of destructibility of contingent remainders is abolished. Which of the following best describes the interest of Stanley’s first son to reach the age of 21?