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Legal Terms - executory interest (primarily historical)
An interest in property that is either created or transferred to a specific individual as a result of a specific event. For instance, if property is placed in trust "for A, but for B if he marries Mary," then B has an executory interest. Executory interests in land are exclusively permissible as equitable interests under the Law of Property Act of 1925.
An interest in property that is either created or transferred to a specific individual as a result of a specific event. For instance, if property is placed in trust "for A, but for B if he marries Mary," then B has an executory interest. Executory interests in land are exclusively permissible as equitable interests under the Law of Property Act of 1925.
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