Future interests

Who holds the interest? - Reversion

Grantor

Patient or divesting? - Reversion

Patiently waits for natural end of preceding FT, LE, or TOY

Vesting of right to possession - Reversion

Vests automatically when prior estate ends

Transferability - Reversion

Alienable inter vivos; Devisable; Inheritable

O retains a reversion in absence of

(1) prior vested interest, (2) in FS, that is (3) ready to take immediately at end of all prior interests

Who holds the interest? - Possibility of Reverter

Grantor

Patient or divesting? - Possibility of Reverter

Patiently waits for natural end of preceding estate determinable

Vesting of right to possession - Possibility of Reverter

Vests automatically if prior estate ends

Transferability - Possibility of Reverter

• Not alienable inter vivos in some states • Not devisable in some states • Inheritable

Who holds the interest? - Right of Entry

Grantor

Patient or divesting? - Right of Entry

Divests preceding estate subject to condition subsequent

Vesting of right to possession - Right of Entry

Vests only if O acts to reclaim possession

Transferability - Right of Entry

• Not alienable inter vivos in some states • Not devisable in some states • Inheritable

Who holds the interest? - Remainder

Grantee

Patient or divesting? - Remainder

Patiently waits for natural end of preceding FT, LE, or TOY

Vesting of right to possession - Remainder

Vests automatically when prior estate ends

Transferability - Remainder

Alienable inter vivos; Devisable; Inheritable

Remainder must be conveyed at?

same time as present estate

Who holds the interest? - Executory interest

Grantee

Patient or divesting? - Executory interest

Divests prior estate

Vesting of right to possession - Executory interest

vests automatically

Transferability - Executory interest

Alienable inter vivos; Devisable; Inheritable