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— 733]

      (Chapter 3 enacted 1872.)

      732. The owner of a thing owns also all its products and accessions.

      (Enacted 1872.)

      733. When, in consequence of a valid limitation of a future interest, there is a suspension of the power of alienation or of the ownership during the continuation of which the income is undisposed of, and no valid direction for its accumulation is given, such income belongs to the persons presumptively entitled to the next eventual interest.

      (Enacted 1872.)

      CHAPTER 4. Termination of Ownership [739 — 742]

      (Chapter 4 enacted 1872.)

      739. A future interest, depending on the contingency of the death of any person without successors, heirs, issue, or children, is defeated by the birth of a posthumous child of such person, capable of taking by succession.

      (Enacted 1872.)

      740. A future interest may be defeated in any manner or by any act or means which the party creating such interest provided for or authorized in the creation thereof; nor is a future interest, thus liable to be defeated, to be on that ground adjudged void in its creation.

      (Enacted 1872.)

      741. No future interest can be defeated or barred by any alienation or other act of the owner of the intermediate or precedent interest, nor by any destruction of such precedent interest by forfeiture, surrender, merger, or otherwise, except as provided by the next section, or where a forfeiture is imposed by statute as a penalty for the violation thereof.

      (Enacted 1872.)

      742. No future interest, valid in its creation, is defeated by the determination of the precedent interest before the happening of the contingency on which the future interest is limited to take effect; but should such contingency afterwards happen, the future interest takes effect in the same manner and to the same extent as if the precedent interest had continued to the same period.

      (Enacted 1872.)

      TITLE 3. GENERAL DEFINITIONS [748 — 749]

      (Title 3 enacted 1872.)

      748. The income of property, as the term is used in this Part of the Code, includes the rents and profits of real property, the interest of money, dividends upon stock, and other produce of personal property.

      (Enacted 1872.)

      749. The delivery of the grant, where a limitation, condition, or future interest is created by grant, and the death of the testator, where it is created by will, is to be deemed the time of the creation of the limitation, condition, or interest, within the meaning of this Part of the Code.

      (Enacted 1872.)

      PART 2. REAL OR IMMOVABLE PROPERTY [[755.] — 945.5]

      (Part 2 enacted 1872.)

      TITLE 1. GENERAL PROVISIONS [[755.] — [755.]]

      (Title 1 enacted 1872.)

      [755.] Section Seven Hundred and Fifty-five. Real property within the State is governed by the law of this State, except where the title is in the United States. (Amended by Code Amendments 1873-74, Ch. 612.)

      TITLE 2. ESTATES IN REAL PROPERTY [761 — 817.4]

      (Title 2 enacted 1872.)

      CHAPTER 1. Estates in General [761 — 784]

      (Chapter 1 enacted 1872.)

      761. Estates in real property, in respect to the duration of their enjoyment are either:

      1. Estates of inheritance or perpetual estates;

      2. Estates for life;

      3. Estates for years; or,

      4. Estates at will.

      (Enacted 1872.)

      [762.] Section Seven Hundred and Sixty-two. Every estate of inheritance is a fee, and every such estate, when not defeasible or conditional, is a fee simple or an absolute fee. (Amended by Code Amendments 1873-74, Ch. 612.)

      763. 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.

      (Enacted 1872.)

      764. Where a remainder in fee is limited upon any estate, which would by the common law be adjudged a fee tail, such 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.

      (Enacted 1872.)

      765. 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.

      (Amended by Stats. 1982, Ch. 497, Sec. 2. Operative July 1, 1983, by Sec. 185 of Ch. 497.)

      [766.] Section Seven Hundred and Sixty-six. An estate during the life of a third person, whether limited to heirs or otherwise, is a freehold. (Amended by Code Amendments 1873-74, Ch. 612.)

      767. 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.

      (Enacted 1872.)

      768. 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.

      (Enacted 1872.)

      769. 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.

      (Enacted 1872.)

      773. Subject to the rules of this title, and of Part 1 of this division, 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; and a fee may be limited on a fee, upon a contingency, which, if it should occur, must happen within the period prescribed by the statutory rule against perpetuities in Article 2 (commencing with Section 21205) of Chapter 1 of Part 2 of Division 11 of the Probate Code.

      (Amended by Stats. 1991, Ch. 156, Sec. 14.)

      778. 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 such remainder is to be deemed a conditional limitation.

      (Enacted 1872.)

      779. 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.

      (Enacted 1872.)

      780. When a remainder on an estate for life or for years is not limited on a contingency defeating or avoiding such 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.

      (Enacted 1872.)

      781. A general or special power of appointment does not prevent the vesting of a future estate limited

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