Title 33, Property

A. A future estate is vested when there is a person in being who would have immediate right to the possession of the lands upon the termination of the intermediate or precedent estate. B. A future estate is contingent while the person to whom, or the event upon which it is limite…

A. A freehold estate or a chattel real may be created to commence at a future time, subject to the provisions of this chapter. B. Estates in expectancy are descendable, devisable and alienable as estates in possession. C. An estate of freehold or inheritance may be made to commen…

Two or more future estates may be created to take effect in the alternative, so that if the first in order fails to vest, the next in succession shall be substituted for it and take effect.

The time of creation of an estate in expectancy is the time of: 1. Delivery of the grant if the estate in expectancy is created by grant. 2. Death of the testator if the estate in expectancy is created by devise.

A. A devise, gift, grant or other conveyance which creates or transfers an estate which, at common law, would be an estate in fee tail, shall be deemed and have the effect of a conveyance in fee simple. B. A devise, gift, grant or other conveyance made by a person holding an esta…

An estate in expectancy may not be defeated or barred by alienation or other act of the owner of the intermediate or precedent estate, nor by destruction of the precedent estate by disseizin, forfeiture, surrender, merger or otherwise, except in the manner provided or authorized …

A. An estate in expectancy may be defeated in any manner provided or authorized by the grant or devise by which the expectant estate was created. B. An estate in expectancy thus defeasible is not, on that ground, void in its creation.

A. A remainder may be limited on a contingency which, if it should happen, will operate to abridge or determine the precedent estate. Such a remainder shall be construed a conditional limitation and shall have effect as such. B. No future estate, otherwise valid, shall be void on…

A. A remainder valid in its creation is not defeated by determination of the precedent estate before the contingency occurs upon which the remainder is limited to take effect. If the contingency occurs after determination of the precedent estate, the remainder shall take effect a…

When a remainder is limited to the heirs or heirs of the body of a person to whom a life estate in the same premises is given, the persons who, on the termination of the life estate, are the heirs or heirs of the body of the life tenant shall take as purchasers by virtue of the r…

An estate for life may be created in an estate for a term of years and a remainder may be limited thereon.

When a remainder on an estate for life or on an estate for years is not limited upon a contingency defeating or avoiding the precedent estate, it shall take effect only on the death of the first taker or the expiration of the term of years.

When a remainder is limited to take effect upon the death of a person without heirs or heirs of his body, or without issue, the words "heirs" or "issue" shall mean heirs or issue living at the death of the person named as ancestor.

A. When a future estate is limited to heirs, issue or children, posthumous children shall take as if born before the death of the parent. B. A future estate contingent upon the death of a person without heirs, issue or children is defeated by birth of a posthumous child of such p…

When rents and profits are directed to be accumulated for the benefit of an infant entitled to the estate in expectancy, and the infant is without other sufficient means of support and education, the superior court, upon application of the guardian of the infant, may direct that …

When in consequence of a valid limitation of an estate in expectancy there is a suspension of the power of alienation, or ownership, during the continuance of which the rents and profits are undisposed of and no valid direction for their accumulation is given, the rents and profi…

The common law rule known as the rule against perpetuities shall hereafter be applicable to all property of every kind and nature and estates and other interests therein, whether personal, real or mixed, legal or equitable by way of trust or otherwise.

In this article, unless the context otherwise requires: 1. "Conservation easement" means a nonpossessory interest of a holder in real property imposing limitations or affirmative obligations for conservation purposes or to preserve the historical, architectural, archaeological or…

A. Except as otherwise provided in this article, a conservation easement may be created, conveyed, recorded, assigned, released, modified, terminated or otherwise altered or affected in the same manner as other easements. For the purposes of this article, conservation easements s…

A. An action affecting a conservation easement may be brought by: 1. An owner of an interest in the real property burdened by the easement. 2. A holder of the easement. 3. A governmental body, charitable corporation or trustee of a charitable trust having a third party right of e…

A. A conservation easement, or any assignment, release, modification, termination or other document altering or affecting a conservation easement, is only valid if recorded with the county recorder of the county in which any portion of the real property burdened by the conservati…

A conservation easement created under this article: 1. Has the same rights as any other recorded interest in real property. 2. Is subject to all laws of this state pertaining to recording of interests in real property and laws relating to adverse possession. 3. Is subject to the …

A. This article applies to any interest created after its effective date which complies with this article, whether designated as a conservation easement or as a covenant, equitable servitude, restriction, easement or otherwise. B. This article does not invalidate any interest, wh…