terminable interest

Definition of "terminable interest"
  1. A type of interest, such as a life estate, that ends when a specific event occurs or a certain period of time passes
How to use "terminable interest" in a sentence
  1. 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.
  2. The trust established a terminable interest in the property for the beneficiary, meaning the interest would end after ten years.
  3. The terminable interest of her life estate ended when she passed away, and the property then went to her heirs.

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