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STUDENT EDITION, AMENDMENTS AND ADDITIONS I (1936)

handle is hein.ali/relwprpty0019 and id is 1 raw text is: AMENDMENTS AND ADDITIONS RESTATEMENT OF THE LAW OE PROPERTY DIVISION II Freehold Estates CHAPTER 2. DEFINITION OF TERMS RELATING TO ESTATES § 24. CONDITION SUBSEQUENT. i. Comment d: Substitute for original Comment d the following Comment d: Comnicnt d. Convmyor or his successor in interest. A power of termination cannot exist in favor of a person other than the conveyor or his successor in interest. It can exist in favor of such conveyor's successor in interest when, but only when, such power of termination either is created in favor of the conveyor's heirs by the will of such conveyor, or, prior to the occurrence of the stipulated event, is effec- tively transferred to such successor by conveyance inter vivos (§ § 160, 161) or by testate or intestate succession (§ § 164, 165), or by a merger or consolidation of corporations (§ 160, Comment e). Change: The last cross-reference to Comment e § 160, is new. Reason for Change: The incompleteness of both § 160 (dealing with the transferability of powers of termination) and of § 24, caused by our failure to discuss the effect of the merger or con- solidation of corporations, is shown by C-ty of New York v. Coney Island Fire Dept., 10 N.Y.S.2d 164, 170 Misc. 787, aff. 18 N.Y.S.2d 923, 259 App.Div. 286, aff., 1941, 32 N.E.2d 827, 285 N.Y. 535. In this case a power of termination reserved in favor of a conveyor town, which was later succeeded by the plaintiff city, was held exercisable by the plaintiff. The statement of this supplementary material is made in the new Comment e under § 160. The cross-reference in § 24, Comment d is needed to make this comment also complete. 1 Property Amend. I COPYRIGHT, 1049 BY THE AMERICAN LAW INSTITUTE

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