Overview

acceleration


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N.

The coming into possession of a future interest in any property at an earlier stage than that directed by the transaction or settlement that created the interest. For example, a landlord's interest in reversion is accelerated if the tenant surrenders the lease before it has expired. When a will bequeaths an interest for life that lapses (e.g. because the legatee dies before the testator), the interest of the person entitled in remainder is accelerated and takes effect immediately the testator dies.

Subjects: Law.


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