executory interest

Definition of "executory interest"
  1. A right to own property, especially real estate, that one receives only if certain conditions are met
How to use "executory interest" in a sentence
  1. His will stipulates an executory interest in the mansion, granted only if his nephew graduates college.
  2. The executory interest in the ranch is only transferable to those who stay and work there for at least five years.
  3. The executory interest in his father's business was contingent on her taking over its operations.

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