executory interest

Quick Reference

(mainly historical) An interest in property that arises or passes to a particular person on the occurrence of a specified event. For example, when property is settled in trust “for A, but for B if he marries Mary”, then B has an executory interest. Under the Law of Property Act 1925 executory interests in land can only exist as equitable interests. Compare remainder; reversion.

Subjects: Law.

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