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MMLU / An investor owned substantial oil and mineral interests in the Rocky Mountains.…

Problem

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question

An investor owned substantial oil and mineral interests in the Rocky Mountains. In July 1990, the investor acquired title to a 100-acre tract located just outside the city limits in a rural area. In 1997, the investor decided to sell his vast ranching and oil interests in the Rocky Mountains. In July, the investor conveyed the tract for a consideration of one dollar, receipt of which was acknowledged, "to my nephew, his heirs, and assigns, but if my nephew's wife dies without issue, to my chef and her heirs and assigns. "After taking possession of the 100-acre tract, the nephew discovered considerable oil reserves on the property. He then began oil drilling operations and removed large quantities of oil, which he sold. At no time did he give notice to the chef of his oil-drilling activities. Months passed before the chef learned that the nephew was selling oil from the drilling operations. The chef has now brought an action in equity for an accounting of the value of the oil removed and for an injunction against any further oil removal. If the nephew's wife died without issue before the beginning of the nephew's oil drilling operations, would this improve the likelihood of the chef's success than if the wife were still alive?

choices

  1. No, because the right to remove oil is an incident of the right to possession.
  2. No, because the nature of the nephew's estate would not be altered by the wife's death.
  3. Yes, because the wife's death without issue would convert the nephew's fee into a reversionary interest.
  4. Yes, because although the nephew still has a fee, it would now be certain to terminate.

subject

professional_law

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Source and history

task_id
70b2d0ec-c988-5447-aa47-ec347c4e1df4
task_key
all--test--70b2d0ec-c988-5447-aa47-ec347c4e1df4
task_revision_id
1
config / split
all / test

Official source

initial import