WebIn respect to the time of enjoyment, an interest in property is either: 1. Present or future; and, 2. Perpetual or limited. 689. A present interest entitles the owner to the immediate possession of the property. 690. A future interest entitles the owner to the possession of the property only at a future period. 691. WebThus we call future interests by different names from present ones: remainder, reversion, or executory interest. The fact thatA has a future interest, however, should not make us …
Future Interests: Reversion, Possibility of Reverter, Right of Entry ...
WebRules of Construction 1. Destructibility 2. Doctrine of Worthier Title a. When a grantor creates a future interest in heirs, the future interest is treated as a reversion. Ex: “O -> … Webi. Interest Retained by Transferor: 1. Reversion: future interest in the grantor after the grantor has conveyed a vested estate. a. All reversions are vested interests, although … robby tantingco
Property Law Outline 3 - FUTURE INTERESTS A. INTRODUCTION …
WebA future interest is an interest that can only be exercised upon the happening of a future event, at which time it becomes a present interest. Future interests are further classified … In property law and real estate, a future interest is a legal right to property ownership that does not include the right to present possession or enjoyment of the property. Future interests are created on the formation of a defeasible estate; that is, an estate with a condition or event triggering transfer of possessory ownership. A common example is the landlord-tenant relationship. The landlord may own a house, but has no general right to enter it while it is being rented. The condi… WebWait and See Approach Most states adopted – wait a certain amount of time to see if future interest vests. 2 approaches: a. wait the perpetuities period – doesn’t run the test at conveyance, but after b. wait 90 years. Co-Ownership and Marital Property. Tenancy in Common (TIC) – separate, but undivided interest in the land. robby taliaferro hilliard lyons