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 future period.
Source: CivC 1877, §§180 to 182; CL 1887, §§2696 to 2698; RCivC 1903, §§203 to 205; RC 1919, §§273 to 275; SDC 1939, §51.0215.