terminable interest
- A type of interest, such as a life estate, that ends when a specific event occurs or a certain period of time passes
- In their will, the parents left their home to their son, but it was a terminable interest - if he gets married, the house will pass to his sister.
- The trust established a terminable interest in the property for the beneficiary, meaning the interest would end after ten years.
- The terminable interest of her life estate ended when she passed away, and the property then went to her heirs.
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