Section 43-3-21 – Perpetual or limited interest in property–Duration of enjoyment.
43-3-21. Perpetual or limited interest in property–Duration of enjoyment. In respect to the time of enjoyment, an interest in property is either perpetual or limited. A perpetual interest has a duration equal to that of the property. A limited interest has a duration less than that of the property. Source: CivC 1877, §§180, 183, 184; […]
Section 43-3-6 – Mere possibility does not constitute an interest in property.
43-3-6. Mere possibility does not constitute an interest in property. A mere possibility, such as the expectancy of an heir apparent, is not deemed an interest of any kind. Source: CivC 1877, §192; CL 1887, §2708; RCivC 1903, §215; RC 1919, §285; SDC 1939, §51.0222.
Section 43-3-7 – Present or future interest–Time of enjoyment–Right to possession of property.
43-3-7. Present or future interest–Time of enjoyment–Right to possession of property. In respect to the time of enjoyment, an interest in property is either present or future. A present interest entitles the owner to the immediate possession of the property. A future interest entitles the owner to the possession of the property only at a […]
Section 43-3-8 – Limitation, condition, or interest–Time of creation.
43-3-8. Limitation, condition, or interest–Time of creation. 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 […]
Section 43-3-9 – Future interest vested or contingent.
43-3-9. Future interest vested or contingent. A future interest is either: (1)Vested; or (2)Contingent. Source: CivC 1877, §185; CL 1887, §2701; RCivC 1903, §208; RC 1919, §278; SDC 1939, §51.0217.
Section 43-3-10 – Vested future interest defined.
43-3-10. Vested future interest defined. A future interest is vested when there is a person in being who would have a right, defeasible or indefeasible, to the immediate possession of the property, upon the ceasing of the intermediate or precedent interest. Source: CivC 1877, §186; CL 1887, §2702; RCivC 1903, §209; RC 1919, §279; SDC […]
Section 43-3-1 – Duration of enjoyment of property–Conditional enjoyment.
43-3-1. Duration of enjoyment of property–Conditional enjoyment. The time when the enjoyment of property is to begin or end may be determined by computation, or be made to depend on events. In the latter case the enjoyment is said to be upon condition. Source: CivC 1877, §196; CL 1887, §2712; RCivC 1903, §219; RC 1919, […]
Section 43-3-2 – Effect of conditions precedent or subsequent.
43-3-2. Effect of conditions precedent or subsequent. Conditions are precedent or subsequent. The former fix the beginning, the latter the ending of the right. Source: CivC 1877, §197; CL 1887, §2713; RCivC 1903, §220; RC 1919, §290; SDC 1939, §51.0224.
Section 43-3-3 – Validity of condition precedent requiring performance of wrongful or unlawful act.
43-3-3. Validity of condition precedent requiring performance of wrongful or unlawful act. If a condition precedent requires the performance of an act wrong in itself, the instrument containing it is so far void, and the right cannot exist. If it requires the performance of an act not wrong of itself, but otherwise unlawful, the instrument […]
Section 43-3-4 – Validity of conditions imposing restraints upon marriage.
43-3-4. Validity of conditions imposing restraints upon marriage. Conditions imposing restraints upon marriage, except upon the marriage of a minor, or of the spouse of the person by whom the condition is imposed, are void; but this does not affect limitations where the intent was not to forbid marriage, but only to give the use […]