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Sec. 1011. WHAT ESTATES IN DISTRICT.—Estates in land in the District shall be estates of inheritance, estates for life, estates for years, estates at will, and estates by sufferance.
Sec. 1012. FEE SIMPLE ESTATES. --All estates of inheritance, including such as were formerly estates tail, shall be adjudged estates in fee simple.
Sec. 1013. An estate in fee simple may be either absolute or qualified, as to one and his heirs during an existing condition of things of uncertain duration.
Sec. 1014. FREEHOLDS.- Estates of inheritance and estates for life shall continue to be denominated freeholds, and estates for
shall be chattels real; estates at will or by sufferance shall be chattel interests, but shall not be liable, as such, to sale under execution; and all estates may be subject to conditions precedent or subsequent.
Sec. 1015. ESTATES PUR AUTRE VIE.—An estate for the life of a third person, whether limited to heirs or otherwise, shall be deemed a freehold only during the life of the grantee or devisee, but after his death it shall be deemed a chattel real and be a part of his personal estate.
Sec. 1016. ESTATES CLASSIFIED.- Estates are either in possession or in expectancy.
Sec. 1017. An estate in possession exists when the owner has an immediate right to the possession of the land.
Sec. 1018. An estate in expectancy is either a reversion or a future estate.
Sec. 1019. REVERSIONS.-A reversion is the residue of an estate left 2.07 in the grantor who has conveyed, or in the heirs of the devisor who bas devised a particular estate less than his own, and which residue returns to his or their possession on the expiration of the particular estate.
Sec. 1020. FUTURE ESTATES.- A future estate is one limited to co mence at a future day, either without the intervention of a precedent estate or after the expiration or determination of a precedent estate created at the same time and by the same conveyance or devise.
Sec. 1021. If it is to commence upon the full expiration of such precedent estate, it is a remainder and may be transferred by that name. If it is to commence on a contingency which, if it happen, will abridge or determine such precedent estate before its expiration, it shall be known as a conditional limitation.
Sec. 1022. VESTED AND CONTINGENT FUTURE ESTATES. – A future estate is vested when there is a person in being who would have an immediate right to the possession of the land upon the expiration of the intermediate or precedent estate, or upon the arrival of a certain period or event when it is to commence in possession. It is contingent when the person to whom or the event upon which it is limited to take effect in possession or become a vested estate is uncertain.
Sec. 1023. PERPETUITIES.—Except in the case of gifts or devises to charitable uses, every future estate, whether of freehold or leasehold, whether by way of remainder or without a precedent estate, I and
whether vested or contingent, shall be void in its creation which shall hache suspend, or may by possibility suspend, the power of absolute aliena
tion of shall be or persons in
Sec. 1024. CHATTELS REAL.—The provisions aforesaid as to future
Sec. 1025. WHAT ESTATES CREATED BY DEED OR WILL.- Subject to the provisions aforesaid, a freehold estate as well as a chattel real may be created by deed or will to commence at a future day, absolutely or conditionally; an estate for life may be created in a term for years and a remainder limited thereon; a remainder of freehold or for years, either vested or contingent, may be created expectant on the determination of a term for years, and a fee may be limited on a fee upon a contingency which must happen, if at all, within the period herein prescribed.
Sec. 1026. ALTERNATIVE FUTURE ESTATES.—Two or more future estates may be created to take effect in the alternative, so that if the first in order shall fail to vest the next in succession may be substituted for it and take effect accordingly.
Sec. 1027. REMAINDER TO HEIRS. — Where a remainder shall be limited to the heirs or heirs of the body of a person to whom a life estate in the same premises shall be given, the persons who, on the termination of the life estate, shall be the heirs or the heirs of the body of such tenant for life shall be entitled to take in fee simple as purchasers by virtue of the remainder so limited.
Sec. 1028. POSTHUMOUS CHILDREN. -Where a future estate shall be limited to heirs, or issue, or children, posthumous children shall be entitled to take in the same manner as if living at the death of their parent; and a future estate depending on the contingency of the death of any person without heirs, or issue, or children shall be defeated by the birth of a posthumous child of such person.
Sec. 1029. EXPECTANT ESTATES NOT TO BE DEFEATED.—No expectant estate can be defeated or barred by any alienation or other act of the owner of the intermediate or precedent estate, nor by any destruction of such precedent estate, by disseizin, forfeiture, surrender, merger, or otherwise, except when such destruction is expressly provided for or authorized in the creation of such expectant estate; nor shall an
expectant estate thus liable to be defeated be on that ground adjudged an
void in its creation. tain Sec. 1030. EXPECTANT ESTATE ALIENABLE.-Expectant estates shall rent be descendible, devisable, and alienable in the same manner as estates I to
Sec. 1031. TENANCIES IN COMMON AND JOINT TENANCIES. -Every
estate granted or devised to two or more persons in their own right, nold,
including estates granted or devised to husband and wife, shall be a tenancy in common, unless expressly declared to be a joint tenancy;
but every estate vested in executors or trustees, as such, shall be a iena- i joint tenancy, unless otherwise expressed. es in
Sec. 1032. EsTATES FOR YEARS.-An estate for a determinate period of time is an estate for
years. Sec. 1033. ESTATES FROM YEAR TO YEAR. —An estate expressed to Iture
be from year to year shall be good for one year only. -hold
Sec. 1034. ESTATES BY SUFFERANCE.—All estates which by construction of the courts were estates from year to year at common law, where a tenant goes into possession and pays rent without an agreement for a term, or where a tenant for years, after the expiration of his term, continues in possession and pays rent and the like, and all
verbal [hirlings] hircings by the month or at any specified rate per lv or
month, shall be deemed estates by sufferance.
Sec. 1035. ESTATES FROM MONTH TO MONTH, AND SO FORTH.-An estate may be from month to month or from quarter to quarter, or, as
otherwise expressed, it may be by the month or by the quarter, if so on a
expressed in writing. erein
Sec. 1036. ESTATES AT WILL.-An estate at will is one held by the joint will of lessor and lessee, and which may be terminated at any time, as herein elsewhere provided, by either party; and such estate shall not exist or be created except by express contract: Provident, however, That in case of a sale of real estate under mortgage or deed of trust or execution, and a conveyance thereof to the purchaser, the grantor in such mortgage or deed of trust, execution defendant, or those in possession claiming under him, shall be held and construed to be tenants at will, except in the case of a tenant holaing under an unexpired lease for years, in writing, antedating the mortgage or deed of trust.
All the provisions of this subchapter shall apply to personal property generally except where from the nature of the property they are inapplicable.
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Sec. 1037. DEFINITION.--A power is an authority to do some act in relation to lands or the creation of estates therein or of charges thereon which the owner granting or reserving such power might himself lawfully perform
Sec. 1038. GENERAL POWER.-A power is general where it authorizes the alienation in fee, by means of a conveyance, will, or charge, of the lands embraced in the
Sec. 1039. SPECIAL POWER.-A power is special
First. Where the persons or class of persons to whom the disposition of the lands under the power is to be made are designated.
Second. Where the power authorizes the alienation, by means of a conveyance, will, or charge, of a particular estate or interest less than
Sec. 1040. BENEFICIAL POWER.-A general or special power is beneficial where no person other than the grantee has, by the terms of its creation, any interest in its execution.
Sec. 1041. EFFECT OF ABSOLUTE POWER TO OWNER OF PARTICULAR ESTATE. — Where an absolute power of disposition, not accompanied by any trust, shall be given to the owner of a particular estate for life or years, such estate shall be changed into a fee, absolute in respect to the rights of creditors and purchasers but subject to any future estates limited thereon in case the power should not be executed or the lands should not be sold for the satisfaction of debts.
Sec. 1042. EFFECT OF SUCH POWER TO ONE WITHOUT PARTICULAR ESTATE.-Where a like power of disposition shall be given to any person to whom no particular estate is limited, such person shall also take a fee, subject to any future estates that may be limited thereon but absolute in respect to creditors and purchasers.
Sec. 1043. EFFECT WHERE NO REMAINDER ON PARTICULAR ESTATE. In all cases where such power of disposition is given and no remainder is limited on the estate of the grantee of the power, such grantee shall be entitled to an absolute fee.
Sec. 1044. CONSTRUCTION OF POWER TO PARTICULAR TENANT TO DEVISE THE INHERITANCE. --Where a general and beneficial power to devise the inheritance shall be given to a tenant for life or for years, such tenant shall be deemed to possess an absolute power of disposition, within the meaning and subject to the provisions of the three last preceding sections.
Sec. 1045. RIGHT OF GRANTOR TO RESERVE POWER.—The grantor in any conveyance may reserve to himself any power, beneficial or in trust, which he might lawfully grant to another, and every power thus reserved shall be subject to the provisions of this subchapter as if granted to another.
Sec. 1046. LIABILITY OF BENEFICIAL POWERS IN EQUITY.-Every special and beneficial power shall be liable, in equity, to the claims of creditors, and the execution of the power may be decreed for the benefit of the creditors entitled.
Sec. 1047. GENERAL POWERS IN TRUST.-A general power is in trust when any person or class of persons other than the grantee of such power is designated as entitled to the proceeds, or any portion of the proceeds or other benefits to result from the alienation of the lands, according to the power.
Sec. 1048. SPECIAL POWERS IN TRUST.-A special power is in trust
First. When the disposition wbich it authorizes is limited to be made to any person or class of persons other than the grantee of such power.
Second. When any person or class of persons other than the grantee is designated as entitled to any benefit from the disposition or change authorized by the power.
Sec. 1049. TRUST POWERS IMPERATIVE.-Every trust power, unless its execution or nonexecution is made expressly to depend on the will of the grantee, is imperative and imposes a duty on the grantee the performance of which may be compelled in equity for the benefit of the parties interested.
Sec. 1050. SELECTION UNDER TRUST POWERS. -A trust power does not cease to be imperative where the grantee has the right to select any and exclude others of the persons designated as the objects of the trust.
Sec. 1051. Where a disposition under a power is directed to be made to or among or between several persons, without any specifications of the share or sum to be allotted to each, all the persons designated shall be entitled to an equal proportion. But when the terms of the power import that the estate or fund is to be distributed between the persons so designated, in such manner or proportions as the trustee of the power may think proper, the trustee may allot the whole to any one or more of such persons in exclusion of the others. Sec. 1052. EXECUTION OF TRUST POWERS FOR BENEFIT OF CREDIT
-The execution in whole or in part of any trust power may be decreed in equity for the benefit of the creditors or assignces of any person entitled to compel its execution when the interest of the objects of such trust is assignable.
Sec. 1053. MANNER OF EXECUTING POWERS. No power can be executed except by some instrument in writing, which would be sufficient in law to pass the estate or interest intended to pass under the power if the person executing the power were the actual owner.
Sec. 1054. Where a power to dispose of lands is confined to a disposition by devise or will, the instrument of execution must be a will duly executed; and where a power is confined to a disposition by grant it can not be executed by will, although the disposition is not intended to take effect until after the death of the party executing the power.
Sec. 1055. Every instrument executed by the grantee of a power conveying an estate or creating a charge, which such grantee would have no right to convey or create unless by virtue of his power, shall be deemed a valid execution of the power, although such power be not recited or referred to therein.
ORS AND ASSIGNEES.