springing executory interest
Definition of springing executory interest
springing executory interest (plural springing executory interests)
- (law) An interest in an estate in land created by the conditions of a grant wherein the grantor cuts short the grantor's own interest in the property in favor of the grantee, contingent upon the occurrence of a specific condition.
Example: Joe gives land "to Harry, if Harry graduates from law school". Harry has an springing executory interest because his graduation from law school directly divests Joe of ownership.
A springing executory interest cuts short the [grantor]] of the property. For example, if O conveys property "To A, if and when he marries"; here, A has a springing executory interest, and O has a fee simple subject to this springing executory interest.
Suppose B is 15 years old.
- Example: "O grants Blackacre to A for life, then to B if B reaches the age of 25 years."
- Analysis (O): O has a reversion (see above), since A might die before B reaches 25.
- Analysis (A): A has a life estate.
- Analysis (B): B has an executory interest, because his interest does not vest until he reaches 25, a condition that is unrelated to the expiration of A's interest. If A lives until B is 25, B's interest will vest absolutely. If not, the interest is springing, because when B reaches 25 possession of Blackacre will "spring" from the grantor O, who will have taken possession when A died.
- Wiktionary. Published under the Creative Commons Attribution/Share-Alike License.
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