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Legal Terms - determinable interest
An interest that will terminate autonomously upon the occurrence of a specific event (which, however, may never occur). For instance, if A transfers land to B until he marries, B would acquire a determinable interest that would revert to A upon his marriage. However, the prospect of a reverter to A is eliminated and B's heirs acquire an absolute interest if B dies as a bachelor. A determinable interest is not an interest that must terminate at a specific future date, such as a *life interest. However, an interest that could terminate during a person's lifetime, such as a *protective trust, is classified as such. Prior to 1925, a determinable legal estate in land was referred to as a determinable fee. However, the Law of Property Act 1925 now restricts its existence to an equitable interest. It is exceedingly challenging to differentiate.between a *conditional interest and a determinable interest
An interest that will terminate autonomously upon the occurrence of a specific event (which, however, may never occur). For instance, if A transfers land to B until he marries, B would acquire a determinable interest that would revert to A upon his marriage. However, the prospect of a reverter to A is eliminated and B's heirs acquire an absolute interest if B dies as a bachelor. A determinable interest is not an interest that must terminate at a specific future date, such as a *life interest. However, an interest that could terminate during a person's lifetime, such as a *protective trust, is classified as such. Prior to 1925, a determinable legal estate in land was referred to as a determinable fee. However, the Law of Property Act 1925 now restricts its existence to an equitable interest. It is exceedingly challenging to differentiate.between a *conditional interest and a determinable interest
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