Example: Joe gives land "to Harry, if Harry graduates from law school". Harry has an springing executory interest because his graduation from law school directly divests Joe of ownership.
Wikipedia foundation.
Executory interest — An Executory Interest is a future interest, held by a third party transferee (i.e. someone other than the grantee), which either cuts off another s interest or begins after the natural termination of a preceding estate. It differs from a… … Wikipedia
executory interest — noun An third party interest in an estate in land created by the conditions of a grant wherein the grantor gives the land to a second party, but with said land going to a third party upon the occurrence of a condition; an interest created subject … Wiktionary
shifting executory interest — noun A third party interest in an estate in land created by the conditions of a grant wherein the grantor gives the land to a second party, but with the occurrence of a condition divesting the second party of the land in favor of the third party … Wiktionary
executory use — A use which is to come into existence at a future time; a springing use, which arises from the seisin of the grantor with no estate preceding it. See executory interest; shifting use; springing use; Statute of Uses … Ballentine's law dictionary
Future interest — This article is about the legal concept of future interests in property. For the actuarial valuation of future streams of income, see Future interests (actuarial science) … Wikipedia
future interest — noun In property law and real estate, a legal right to property ownership which will vest in the future, but which does not include the right to present possession or enjoyment of the property. See Also: contingent remainder, executory interest … Wiktionary
executory interests — A general term, comprising all future estates and interests in land or personalty, other than reversions and remainders. A future interest held by a third person (not the grantor) which either cuts short (shifting) or begins some time after… … Black's law dictionary
executory interests — A general term, comprising all future estates and interests in land or personalty, other than reversions and remainders. A future interest held by a third person (not the grantor) which either cuts short (shifting) or begins some time after… … Black's law dictionary
conveyance to uses — A conveyance creating an executory interest known as a shifting or springing use. 28 Am J2d Est § 333. See shifting uses … Ballentine's law dictionary
devise — /davayz/ A testamentary disposition of land or realty; a gift of real property by the last will and testament of the donor. When used as a noun, means a testamentary disposition of real or personal property and when used as a verb, means to… … Black's law dictionary
