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LSDefine

Simple English definitions for legal terms

nonpossessory estate

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A quick definition of nonpossessory estate:

A nonpossessory estate, 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 or for someone who will own it in the future. It is often used in stocks and debt securities, and can be sold or transferred to someone else.

A more thorough explanation:

A nonpossessory estate is a type of property interest where the privilege of possession or enjoyment is not present but is expected in the future. This type of estate is also known as a future interest or expectant estate.

For example, if a person grants a property to someone else for a specific period, say five years, then the grantee has a nonpossessory estate in the property. The grantee does not have the right to possess or enjoy the property until the end of the five-year period.

Another example is when a person transfers their entire estate to someone else, but the transfer is subject to a condition that the property will go to a third person after a specific period. In this case, the third person has a nonpossessory estate in the property until the end of the specified period.

These examples illustrate that a nonpossessory estate is a type of property interest where the right to possess or enjoy the property is not present but is expected in the future.

non ponendis in assisis et juratis | nonprivity

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medicine is a scam
join the ethically ambiguous legal field instead
Dkk
18:57
I want to meet an attorney that defends clients who run into flat earth problems. I want an attorney that knows and believes in flat earth theory.
19:05
i want a flat earther for president. i want a guy who posts on 4chan for president. i want someone who mogs for president.
Dkk
19:18
Exactly. My version of that awful poem.
Dkk
19:19
I can accept a president with maybe one or two of the poems traits hut good God, all of them??? No ty.
windyMagician
19:20
president who respects sex is crazy
windyMagician
19:20
we had bill clinton already
Dkk
19:21
Bill Clinton, first and last black president
windyMagician
19:23
I want to go running but my leg feels weird
windyMagician
19:23
it doesn't hurt its just tingly
Dkk
19:26
It needs more alcohol. You tingle when your nerves need watering.
19:27
try stretching it maybe to see what's up
windyMagician
19:27
stretches make me think it's just soreness
windyMagician
19:27
I'm sober lol
Dkk
19:38
Anyone else get the google notification that your LSD password has been compromised lol. LSD got hacked.
20:48
what.jpg @Dkk
CynicalOops
21:03
You think you just fell out of a coconut tree?
jackfrost11770
21:10
nope dk
CynicalOops
22:37
Calvinamala Harris
jackfrost11770
23:16
should i start using letterboxed again
Dkk
23:25
@jackfrost11770: if you want but like it aint for me
dk do u ever eat at bk
Dkk
23:48
@chickenburgahfart: I would do that in the Army if really desperate for food or if I had to work through lunch. One of the few fast food places I go to.
bk so slept on
Dkk
0:23
I will take In N Out everyday over it when I can though.
texaslawhopefully
1:22
In N Out is not only the best fast food place, but the prices too are fantastic
Dkk
1:27
Indeed, indeed.
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