Legal Definitions - future use

Future Use refers to a planned or designated purpose for something, such as land, property, or funds, that is not currently in effect but is intended to occur at a later time. This future application often depends on specific conditions being met or events taking place.

Here are some examples illustrating the concept of future use:

• Urban Planning and Zoning: A city's master plan might designate a currently undeveloped parcel of land as a "future public park." While the land is presently vacant or used for agriculture, the city has officially earmarked it for recreational use by the community at some point in the coming years, perhaps when funding becomes available or the surrounding population grows. This illustrates future use because the land's ultimate purpose is defined, even though it's not being used as a park today.

• Estate Planning and Trusts: A grandparent establishes a trust fund for their grandchild, specifying that the money is for the grandchild's "future use" to cover college tuition and living expenses. The funds are held by a trustee and cannot be accessed immediately. They are reserved for a specific purpose that will only materialize when the grandchild reaches college age, demonstrating a clear intent for a future application of the assets.

• Real Estate Development: A property developer purchases a large industrial warehouse with the stated intention for its "future use" as a multi-story residential building. Currently, the building is an empty shell, but the developer has plans for extensive renovations and conversion. The property's current state does not reflect its ultimate purpose, which is designated for a future transformation into housing units, contingent on obtaining permits and completing construction.