shifting executory interest

A third party interest in an estate in land created by the conditions of a grant wherein the grantor gives the land to a second party, but with the occurrence of a condition divesting the second party of the land in favor of the third party.

Example: Joe gives land "to Mike, but if Harry graduates from law school, to Harry". Harry has an shifting executory interest because his graduation from law school divests Mike of ownership.


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Look at other dictionaries:

  • Executory interest — An Executory Interest is a future interest, held by a third party transferee (i.e. someone other than the grantee), which either cuts off another s interest or begins after the natural termination of a preceding estate. It differs from a… …   Wikipedia

  • executory interest — noun An third party interest in an estate in land created by the conditions of a grant wherein the grantor gives the land to a second party, but with said land going to a third party upon the occurrence of a condition; an interest created subject …   Wiktionary

  • springing executory interest — noun An interest in an estate in land created by the conditions of a grant wherein the grantor cuts short the grantors own interest in the property in favor of the grantee, contingent upon the occurrence of a specific condition. Example: Joe… …   Wiktionary

  • executory use — A use which is to come into existence at a future time; a springing use, which arises from the seisin of the grantor with no estate preceding it. See executory interest; shifting use; springing use; Statute of Uses …   Ballentine's law dictionary

  • executory interests — A general term, comprising all future estates and interests in land or personalty, other than reversions and remainders. A future interest held by a third person (not the grantor) which either cuts short (shifting) or begins some time after… …   Black's law dictionary

  • Future interest — This article is about the legal concept of future interests in property. For the actuarial valuation of future streams of income, see Future interests (actuarial science) …   Wikipedia

  • future interest — noun In property law and real estate, a legal right to property ownership which will vest in the future, but which does not include the right to present possession or enjoyment of the property. See Also: contingent remainder, executory interest …   Wiktionary

  • Rule against perpetuities — The rule against perpetuities is a rule of law in effect under the property, trusts, estate, and contract law of many common law jurisdictions. The rule invalidates certain future interests (traditionally contingent remainders and executory… …   Wikipedia

  • Royal lives clause — A Royal lives clause is a contract clause which provides that a certain right must be exercised within (usually) the lifetime plus 21 years of the last living descendant of a British Monarch who happens to be alive at the time when the contract… …   Wikipedia

  • conveyance to uses — A conveyance creating an executory interest known as a shifting or springing use. 28 Am J2d Est § 333. See shifting uses …   Ballentine's law dictionary

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