MLchartDataset catalogue

Springing interest

Term · Law · MLC-T-LAW-004652

A future interest in property that does not take effect until a specific condition is met, at which point it divests the grantor's retained estate. This interest 'springs' into existence upon the fulfillment of the condition, rather than following a prior estate. It is a type of executory interest that can be subject to the Rule Against Perpetuities.

Table 1. Record
IdentifierMLC-T-LAW-004652
FieldLaw
Record as JSON 
{
  "id": "MLC-T-LAW-004652",
  "term": "Springing interest",
  "field": "Law",
  "definition": "A future interest in property that does not take effect until a specific condition is met, at which point it divests the grantor's retained estate. This interest 'springs' into existence upon the fulfillment of the condition, rather than following a prior estate. It is a type of executory interest that can be subject to the Rule Against Perpetuities.",
  "url": "https://mlchart.com/terminology/law/springing-interest/"
}

Record 4,739 of 5,441 in Law terminology (MLC-0107). Request the full dataset.