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Simple English definitions for legal terms

Springing executory interest

Read a random definition: libel of accusation

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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THATS SO FUNNY
i cant i would go crazy
JumpySubsequentDolphin
20:50
i need to know who decided to do that.
JumpySubsequentDolphin
20:50
omg im on a plane weeeee
the devil
youre on a plane??? LSD made the mile high club??
20:50
yo splitterus are you in school already
20:50
it says ur c/o 2027
JumpySubsequentDolphin
20:51
@SplitterusClitterus: HAHAH yes
ur user is hilarioussss and no i just graduated this may and am now applying ---also im out of messages so ill take a lil
20:52
roger dat. see u in heck
im back, r u applying this cycle too
JumpySubsequentDolphin
21:32
this child fell asleep on me
JumpySubsequentDolphin
21:32
im so uncomfortable
just push him off the entire seat
JumpySubsequentDolphin
21:34
LMAOOOO
JumpySubsequentDolphin
21:35
no he’s literally like 8 and he fully just put his head on my bicep and slept
JumpySubsequentDolphin
21:35
he has since moved
22:12
@SplitterusClitterus: me yesterday
gulc baby pls text me back... i miss you ...... :(
22:23
i just went into a discord vc and yelled "YALL I JUST GOT INTO J.M. SCHOOL OF LAW"
22:24
people were getting excited :sob:
22:25
then someone was like "what does jm stand for" and i was like .. well
AHHAHAHAHAHAHHAHAHAHAHAHAH
@JumpySubsequentDolphin: wait this is so cute, also where r u going
JOE MBIDEN
JumpySubsequentDolphin
22:39
@splitty Oregon!
oh yay for what thats so random
JumpySubsequentDolphin
22:45
haha my brother and sister in law live there
so cutie oregon is beatiful
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