English Dictionary

executory interest

noun

(law) A third-party interest in an estate in land created by the conditions of a grant wherein the grantor gives the land to a second party, but with said land going to a third party upon the occurrence of a condition; an interest created subject to a fee simple subject to executory interest.

The executory interest in the property will transfer to the new owner.

意味（1）

(law) A third-party interest in an estate in land created by the conditions of a grant wherein the grantor gives the land to a second party, but with said land going to a third party upon the occurrence of a condition; an interest created subject to a fee simple subject to executory interest.

Joe gives land to Mike, but if Harry graduates from law school, to Harry. Harry has an executory interest which he can realize by graduating from law school; Mike owns the land subject to Harry's executory interest.