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Legal Terms - Acceleration
Acceleration refers to the acquisition of a future interest in a property before the scheduled time as specified in the transaction or settlement that established the interest. For instance, if a tenant surrenders the lease before it has expired, the landlord's right in reversion is expedited. When a will grants a life interest that becomes void (for example, if the recipient dies before the person who made the will), the entitlement of the person who will get the property after the life interest is accelerated and becomes effective immediately upon the death of the person who made the will.
Acceleration refers to the acquisition of a future interest in a property before the scheduled time as specified in the transaction or settlement that established the interest. For instance, if a tenant surrenders the lease before it has expired, the landlord's right in reversion is expedited. When a will grants a life interest that becomes void (for example, if the recipient dies before the person who made the will), the entitlement of the person who will get the property after the life interest is accelerated and becomes effective immediately upon the death of the person who made the will.
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