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PROPERTY I QUIZ: FUTURE INTERESTS Prof. Bell NOTE: Choose the one best answer to each question, applying the majority rule of property law. As on the MBE, you have 1.8 minutes/answer. Question 1 Oscar.

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A remainder is a future interest that another holds (either contingent or vested) after the termination of a prior interest (for example, after a life estate).

There are 3 types of future interests given to grantees: vested remainders, contingent remainders, executory interests.

an interest in personal or real property, the possession and enjoyment of which is to commence at a later date.

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.

Future Interest Defined A present possessory estate in land is an interest where you have the current right to possess and use the real property. A future interest is an estate in land where you have a present interest in real property, but you don't currently have the right to possess the property.

In property law, future interest is the right to possess property in the future. A future interest is in direct contrast with a present right to property, also referred to as a possessory estate. A future interest may be conditioned upon the occurrence of a certain condition or event, or it can also be unconditional.

Dividing Into Present and Future Interests The transferring owner (the grantor) can donate, sell or bargain-sell the future interest to the recipient (the grantee) identified in the deed. Just as when one deeds a house or other real estate to another, the transfer of this future interest is not revocable.

A remainder is a future interest in land. It is the right to own and possess the land after the fixed interest of current holder expires. Thus, a remainder can follow a life estate or a term of years.

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© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232
Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
DMCA Policy
About Us
Blog
Affiliates
Contact Us
Privacy Notice
Delete My Account
Site Map
Industries
Forms in Spanish
Localized Forms
State-specific Forms
Forms Kit
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate workflows
DocHub
Instapage
Social Media
Call us now toll free:
1-877-389-0141
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232