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Simple English definitions for legal terms

estate in expectancy

Read a random definition: delivery of deed

A quick definition of estate in expectancy:

An estate in expectancy, also known as a future interest, is a type of property ownership where the right to use or enjoy the property is not immediate, but will happen in the future. This can be either for the person who currently owns the property (such as a reversion) or for someone who will own it in the future (such as a remainder or executory interest). Future interests are often found in stocks and debt securities, and can be sold by a trustee. It's important to note that even though the right to use or enjoy the property is not immediate, the future interest is still considered a part of the total ownership of the property.

A more thorough explanation:

An estate in expectancy, also known as a future interest, is a property interest where the right to possess or enjoy the property is not present but will occur in the future. This type of interest can exist in either the grantor or the grantee.

For example, if a person grants their property to their child for their lifetime, with the property then passing to their grandchild after the child's death, the grandchild has a future interest in the property. They do not have the right to possess or enjoy the property until their parent dies.

Another example is if a person grants their property to a charity for a certain number of years, with the property then passing to their child after that time. The child has a future interest in the property, as they do not have the right to possess or enjoy the property until the charity's term ends.

Overall, an estate in expectancy is a property interest that will only be realized in the future, and not in the present.

estate from period to period | estate in freehold

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THATS SO FUNNY
i cant i would go crazy
JumpySubsequentDolphin
20:50
i need to know who decided to do that.
JumpySubsequentDolphin
20:50
omg im on a plane weeeee
the devil
youre on a plane??? LSD made the mile high club??
20:50
yo splitterus are you in school already
20:50
it says ur c/o 2027
JumpySubsequentDolphin
20:51
@SplitterusClitterus: HAHAH yes
ur user is hilarioussss and no i just graduated this may and am now applying ---also im out of messages so ill take a lil
20:52
roger dat. see u in heck
im back, r u applying this cycle too
JumpySubsequentDolphin
21:32
this child fell asleep on me
JumpySubsequentDolphin
21:32
im so uncomfortable
just push him off the entire seat
JumpySubsequentDolphin
21:34
LMAOOOO
JumpySubsequentDolphin
21:35
no he’s literally like 8 and he fully just put his head on my bicep and slept
JumpySubsequentDolphin
21:35
he has since moved
22:12
@SplitterusClitterus: me yesterday
gulc baby pls text me back... i miss you ...... :(
22:23
i just went into a discord vc and yelled "YALL I JUST GOT INTO J.M. SCHOOL OF LAW"
22:24
people were getting excited :sob:
22:25
then someone was like "what does jm stand for" and i was like .. well
AHHAHAHAHAHAHHAHAHAHAHAHAH
@JumpySubsequentDolphin: wait this is so cute, also where r u going
JOE MBIDEN
JumpySubsequentDolphin
22:39
@splitty Oregon!
oh yay for what thats so random
JumpySubsequentDolphin
22:45
haha my brother and sister in law live there
so cutie oregon is beatiful
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