6-4.7 – Definition of a Future Estate Indefeasibly Vested
§ 6-4.7 Definition of a future estate indefeasibly vested A future estate indefeasibly vested is an estate created in favor of one or more ascertained persons in being which is certain when created to become an estate in possession whenever and however the preceding estates end and which can in no way be defeated or […]
6-4.8 – Definition of a Future Estate Vested Subject to Open
§ 6-4.8 Definition of a future estate vested subject to open A future estate vested subject to open is an estate created in favor of a class of persons, one or more of whom are ascertained and in being, which is certain when created to become an estate in possession whenever and however the preceding […]
6-4.9 – Definition of a Future Estate Vested Subject to Complete Defeasance
§ 6-4.9 Definition of a future estate vested subject to complete defeasance A future estate vested subject to complete defeasance is an estate created in favor of one or more ascertained persons in being, which would become an estate in possession upon the expiration of the preceding estates, but may end or may be terminated […]
6-4.10 – Definition of a Future Estate Subject to a Condition Precedent
§ 6-4.10 Definition of a future estate subject to a condition precedent A future estate subject to a condition precedent is an estate created in favor of one or more unborn or unascertained persons or in favor of one or more presently ascertainable persons upon the occurrence of an uncertain event.
6-4.1 – Definition of an Estate in Possession
§ 6-4.1 Definition of an estate in possession An estate in possession is an estate which entitles the owner to the immediate possession of property.
6-4.2 – Definition of a Future Estate
§ 6-4.2 Definition of a future estate A future estate is an estate limited to commence in possession at a future time, either without the intervention of a precedent estate or on the determination, by lapse of time or otherwise, of a precedent estate created at the same time.
6-4.3 – Definition of a Remainder
§ 6-4.3 Definition of a remainder A remainder is a future estate, as defined in 6-4.2, created in favor of a person other than the creator.
6-4.4 – Definition of a Reversion
§ 6-4.4 Definition of a reversion A reversion is the future estate, other than a possibility of reverter and a right of reacquisition, left in the creator or in his successors in interest upon the simultaneous creation of one or more lesser estates than the creator originally owned.
6-4.5 – Definition of a Possibility of Reverter
§ 6-4.5 Definition of a possibility of reverter A possibility of reverter is the future estate left in the creator or in his successors in interest upon the simultaneous creation of an estate that will terminate automatically within a period of time defined by the occurrence of a specified event.
6-4.6 – Definition of a Right of Reacquisition
§ 6-4.6 Definition of a right of reacquisition A right of reacquisition is the future estate left in the creator or in his successors in interest upon the simultaneous creation of an estate on a condition subsequent.