33-204. Estates in expectancy; reversions;
future estates; remainders
A. Estates in expectancy are divided into:
1. Reversions. A reversion is the residue of an estate left in a grantor or his
heirs, or in the heirs of a testator, commencing in possession upon the determination of
a particular estate granted or devised.
2. Future estates. A future estate is an estate limited to commence in possession
at a future time, either without the intervention of a precedent estate or upon the
determination, by lapse of time or otherwise, of a precedent estate created at the same
time. A future estate dependent upon a precedent estate is a remainder.
|