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KembaraXtra – Legal Terms – Possibility
In land law, a possibility is an interest in land dependent upon an uncertain future event.
A mere expectation, such as the hope of inheriting under a living person’s will, creates no legal interest.
Some possibilities, however, are coupled with an existing legal interest and may be transferable.
An example is an interest that arises only if a specified condition occurs in the future.
The doctrine distinguishes enforceable contingent interests from mere expectations.
In land law, a possibility is an interest in land dependent upon an uncertain future event.
A mere expectation, such as the hope of inheriting under a living person’s will, creates no legal interest.
Some possibilities, however, are coupled with an existing legal interest and may be transferable.
An example is an interest that arises only if a specified condition occurs in the future.
The doctrine distinguishes enforceable contingent interests from mere expectations.
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