FUTUREINTEREST

Future interest

In property law and real estate, a future interest is a legal right to property ownership that does not include the right to present possession or enjoyment of the property. Future interests are created on the formation of a defeasible estate; that is, an estate with a condition or event triggering transfer of possessory ownership. A common example is the landlord-tenant relationship. The landlord may own a house, but has no general right to enter it while it is being rented. The conditions triggering the transfer of possession, first to the tenant then back to the landlord, are usually detailed in a lease.

The above text is a snippet from Wikipedia: Future interest
and as such is available under the Creative Commons Attribution/Share-Alike License.

future interest

Noun

  1. 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.


The above text is a snippet from Wiktionary: future interest
and as such is available under the Creative Commons Attribution/Share-Alike License.

Need help with a clue?
Try your search in the crossword dictionary!