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LSDefine

Simple English definitions for legal terms

estate in expectancy

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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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got a random stanford email and almost had a heart attack
ALSO CONGRATS!
Congrats1!
21:15
Miami A, yall I'm so excited I could cry.
21:15
Feel like I can finally stop holding my breath!! Whew!!!
[] baddestbunny
22:16
every time I get accosted by a strange man who follows me around because my male coworkers were too busy talking to walk me back to my car I get closer to saying we need to bring back traditional gender roles
Dkk
22:32
Nice! @Macaque
Dkk
22:32
@Aromatic, Have to guess.
Dkk
22:33
That sucks @Bunny do you have to go to the hospital?
[] baddestbunny
22:40
I said accosted not assaulted
23:35
guys. my notre dame address just went long is this good or bad
1a2b3c4d26z
23:37
Oooooo me too
23:37
omg is this good or bad
Dkk
23:47
Idk if gender roles are gunna fix that then.
23:49
it looks like most people who applied in october last cycle didn't get a decision until january... does it even mean anything that our addresses went long??
hows ED 2 compared to ED 1?
Dkk
0:10
No idea
windyMagician
0:34
reporting live to say my ndls address also went long
does it mean anything ^
Dkk
2:21
NDLS and Fordham took a very long time last year. It's good info for people to know.
[] baddestbunny
4:29
let’s get after it boys and girls
Dkk
5:21
I gtg to bed soon.
Dkk
5:22
Big day today. Gunna be a crazy one. I will sleep through the first half.
good morning lsd it is 5 am EST
also jazzy my ndls address went long ages ago i sadly do not think it means anything
my stanford address also went long LOL i think at most it's an indicator it's under review
WorthlessAttractiveZombie
7:44
My berkeley paragraph finally disappeared. I definitely think it is just an indicator that they are actively reviewing files, and does not mean anything about A, WL, or Rs
WorthlessAttractiveZombie
7:46
Also has anyone's date disappeared for W&L? Mine did last night
7:55
@WorthlessAttractiveZombie: mine did yesterday morning
7:56
Oops sorry I meant Vilanova. Mine disappeared last week
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