Estates in General

Division 2, Part 2, Title 2, Chapter 1 deals with estates generally in California.

Section 761 provides that estates in real property, in respect to the duration of their enjoyment are estates of inheritance or perpetual estates; estates for life; estates for years; or, estates at will.

Section 762 states that every estate of inheritance is a fee, and every estate, when not defeasible or conditional, is a fee simple or an absolute fee.

Section 763 says that estates tail are abolished, and every estate which would be at common law adjudged to be a fee tail is a fee simple; and, if no valid remainder is limited thereon, is a fee simple absolute.

Section 764 provides that, where a remainder in fee is limited upon any estate, which would by the common law be adjudged a fee tail, the remainder is valid as a contingent limitation upon a fee, and vests in possession on the death of the first taker, without issue living at the time of his death.

Section 765 specifies that estates of inheritance and for life are called estates of freehold; estates for years are chattels real; and estates at will are chattel interests, but are not subject to enforcement of a money judgment.

Section 766 says that an estate during the life of a third person, whether limited to heirs or otherwise, is a freehold.

Section 767 states that a future estate may be limited by the act of the party to commence in possession at a future day, either without the intervention of a precedent estate, or on the termination, by lapse of time or otherwise, of a precedent estate created at the same time.

Section 768 provides that a reversion is the residue of an estate left by operation of law in the grantor or his successors, or in the successors of a testator, commencing in possession on the determination of a particular estate granted or devised.

Section 769 says that, when a future estate, other than a reversion, is dependent on a precedent estate, it may be called a remainder, and may be created and transferred by that name.

Section 773 specifies that a freehold estate, as well as a chattel real, may be created to commence at a future day; an estate for life may be created in a term of years, and a remainder limited thereon; a remainder of a freehold or chattel real, either contingent or vested, may be created, expectant on the determination of a term of years.

Section 778 states that a remainder may be limited on a contingency which, in case it should happen, will operate to abridge or determine the precedent estate; and every remainder is to be deemed a conditional limitation.

Section 779 says that, when a remainder is limited to the heirs, or heirs of the body, of a person to whom a life estate in the same property is given, the persons who, on the termination of the life estate, are the successors or heirs of the body of the owner for life, are entitled to take by virtue of the remainder so limited to them, and not as mere successors of the owner for life.

Section 780 explains that, when a remainder on an estate for life or for years is not limited on a contingency defeating or avoiding the precedent estate, it is to be deemed intended to take effect only on the death of the first taker, or the expiration, by lapse of time, of such term of years.

Section 781 says that a general or special power of appointment does not prevent the vesting of a future estate limited to take effect in case the power is not executed.

Section 782 states that any provision in any deed of real property in California, whether executed before or after the effective date of this section, that purports to restrict the right of any persons to sell, lease, rent, use, or occupy the property to persons having any characteristic listed in specified laws.

Section 782.5 provides that any deed or other written instrument that relates to title to real property, or any written covenant, condition, or restriction annexed or made a part of, by reference or otherwise, any deed or instrument that relates to title to real property, which contains any provision that purports to forbid, restrict, or condition the right of any person or persons to sell, buy, lease, rent, use, or occupy the property on account of any basis listed in specifies laws.

Section 783 states that a condominium is an estate in real property. A condominium may, with respect to the duration of its enjoyment, be an estate of inheritance or perpetual estate, an estate for life, an estate for years, or any combination of the foregoing.

Section 783.1 explains that, in a stock cooperative, both the separate interest, and the correlative interest in the stock cooperative corporation, however designated, are interests in real property.

Section 784 defines the term “restriction.”