O conveys Blackacre "to Angela for life, then to Brad." Before Angela dies, Brad wants to mortgage his interest in Blackacre to secure a personal loan. Under traditional property law, which of the following best describes Brad's ability to transfer or encumber his interest?
Brad may not mortgage his interest because a future interest cannot be transferred until it becomes possessory.
Brad may mortgage his interest, but the mortgage will automatically terminate if Angela lives more than twenty-one years after it is executed.
Brad may mortgage his interest because a vested remainder is generally fully transferable inter vivos, subject to any valid statutory restraints on alienation.
Brad may mortgage his interest only if Angela consents, because the life tenant and remainderman must join in any conveyance.
A vested remainder is generally fully transferable during the holder's lifetime; Brad may sell, assign, or mortgage it like any other property interest. Jurisdictions may, however, impose valid statutory restraints that limit certain transfers (for example, restrictions on conveyances to non-resident aliens). Choices B and C are incorrect because future interests-if vested-need not await possession or life-tenant consent to be conveyed. Choice D incorrectly applies the rule against perpetuities, which does not bar ordinary mortgages on a vested remainder.
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