A landowner conveys property "to Alice for life, then to Bob, but if Bob does not survive Alice, then to Carol." What is Alice's interest in the property?
Fee simple subject to a condition subsequent
A vested remainder
Fee simple absolute
A life estate
Alice holds a life estate in the property because the conveyance explicitly states that she has possession of the property for her lifetime. A life estate is a present possessory estate that ends at the death of the life tenant and does not pass to the tenant's heirs. Bob has a vested remainder subject to divestment because his interest in the property is contingent on him surviving Alice. Carol has a shifting executory interest, which will divest Bob's interest if the condition (Bob predeceasing Alice) is met. Fee simple absolute, which grants unrestricted full ownership, is not applicable here as Alice’s ownership is limited to her lifetime, and she cannot transfer the property beyond this interest. A fee simple subject to a condition subsequent is also incorrect because that estate arises in situations where a condition subsequent allows the grantor or their heirs to reclaim the property, which is not the case here.
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