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Simple English definitions for legal terms

Springing executory interest

Read a random definition: plottage

A quick definition of Springing executory interest:

A springing executory interest is a type of future interest that comes into effect after the grantor's interest ends. It's like a surprise gift that you only get after someone else has finished using it.

A more thorough explanation:

Springing executory interest

A type of future interest that becomes effective only when a specific event occurs, and it follows an interest that the grantor held.

For example, a grantor may convey a piece of property to their child, but only when the child graduates from college. Until the child graduates, the grantor retains ownership of the property. Once the child graduates, the ownership of the property "springs" from the grantor to the child, creating an executory interest.

Another example is a grantor conveying a piece of property to a charity, but only if the charity uses the property for a specific purpose, such as building a community center. If the charity fails to use the property for the specified purpose, the ownership of the property "springs" back to the grantor or to another designated party.

Springing executory interests are future interests that "spring" into effect only when a specific event occurs. These interests follow an interest that the grantor held, and they can be used to ensure that property is used for a specific purpose or that ownership is transferred only when certain conditions are met. The examples illustrate how a springing executory interest works in practice, showing how ownership of property can be transferred or retained based on specific conditions.

springing durable power of attorney | springing interest

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9:31
some people hate him. some people love him, but he a real one: https://youtu.be/w5oEqiVQcF4?t=173
9:32
[kevin oleary]
worthless i trust you implicitly you know what it will happen now.
worthless i trust you implicitly you know what it will happen now.
worthless i trust you implicitly you know what it will happen now.
worthless i trust you implicitly you know what it will happen now.
worthless i trust you implicitly you know what it will happen now.
WorthlessAttractiveZombie
9:34
I mean if Fordham doesn't release today I will purposefully get on a train, go to new york, and then take the stinkiest shit inside the admission office's toilet (potentially clogging it and forcing them to get a plumber)
IS IT ONLY ON MY END WHY DID THAT SEND TEN MILLION TIMES
HELLO
WorthlessAttractiveZombie
9:35
it sent a million times lol
WHAT HAPPENED
yeah i thought you were tweaking for a second
i'm so sorry everyone what the actual fuck this website hates me
WorthlessAttractiveZombie
9:35
Jack's just tweaking on LSD no biggie
to be fair this accurately represents my mental state
election day psychosis coming in hot (fordham)
usc pls pull through .....
i literally just need one A so i can relax before my ED decision
WorthlessAttractiveZombie
9:38
oh that's right USC might release
soapy
9:43
USC still has not looked at my app
WorthlessAttractiveZombie
9:43
when did you submit soapy?
soapy
9:44
10/16
WorthlessAttractiveZombie
9:44
to be fair it took them almost 2 months for me to go under review
soapy
9:44
Feelin a bit stressed, as I've got no date change for Michigan either despite applying 10/7
WorthlessAttractiveZombie
9:45
I have not had a date change either for Mich but I've seen people get in without one so who knows
I applied 9/25 to like 6 schools and some (Houston) have no date change yet so dw
soapy
9:46
But do people get in without addresses going long?
WorthlessAttractiveZombie
9:46
it's tough to tell because a lot of people type out their addresses long to begin with
soapy
9:46
Ah. I didn't. Looking back, my Mich supplement kind of sucks, so there's that
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