Legal Definition and Related Resources of Executory Interest

while an executory devise is a gift by will, an executory interest is an interest that may be created not only by will but by grant inter vivos . A non-vested interest in a transferee which is so limited that it will vest on happening of a condition , such as failure of first taker to convey during his lifetime, or on occurrence of an event which is certain to take place and which vests in derogation of vested interest. See Kanawha Val. Bank v Hornbeck, 151 S. E.2d 694, 151 W. Va. 308.

Browse or run a search for Executory Interest in the American Encyclopedia of Law, the Asian Encyclopedia of Law, the European Encyclopedia of Law, the UK Encyclopedia of Law or the Latin American and Spanish Encyclopedia of Law.

Executory Interest in Historical Law

You might be interested in the historical meaning of this term. Browse or search for Executory Interest in Historical Law in the Encyclopedia of Law.

Search for legal acronyms and/or abbreviations containing Executory Interest in the Legal Abbreviations and Acronyms Dictionary.

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English Legal System: Executory Interest

In the context of the English law, A Dictionary of Law provides the following legal concept of Executory Interest : (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.