Simple English definitions for legal terms
Read a random definition: ex statuto
An executory limitation is a legal term that refers to a restriction on an estate that causes it to automatically end and transfer to a third party upon the occurrence of a specific event. This type of limitation is not recognized in common law and can only be created as a shifting use or an executory devise. It is a condition subsequent in favor of someone other than the transferor. For example, if a property is transferred to A until B turns 21, then the property will automatically transfer to C when B turns 21.
An executory limitation is a type of restriction that automatically ends an estate and transfers it to a third party upon the occurrence of a specified event. This type of limitation is not recognized in common law and can only be created as a shifting use or an executory devise. It is a condition subsequent in favor of someone other than the transferor.
These examples illustrate how an executory limitation can cause an estate to automatically end and transfer to a third party upon the occurrence of a specified event, which is different from a regular limitation that restricts the extent of an estate.