MLchartDataset catalogue

Subject to open

Term · Law · MLC-T-LAW-004726

A characteristic of a future interest in property held by a class of beneficiaries, such as “to A’s children,” where the class is not yet closed. The existing members of the class have a vested interest, but their individual shares will be reduced as new members are born or adopted into the class. The class closes under the rule of convenience when any member is entitled to demand possession of their share.

Table 1. Record
IdentifierMLC-T-LAW-004726
FieldLaw
Record as JSON 
{
  "id": "MLC-T-LAW-004726",
  "term": "Subject to open",
  "field": "Law",
  "definition": "A characteristic of a future interest in property held by a class of beneficiaries, such as “to A’s children,” where the class is not yet closed. The existing members of the class have a vested interest, but their individual shares will be reduced as new members are born or adopted into the class. The class closes under the rule of convenience when any member is entitled to demand possession of their share.",
  "url": "https://mlchart.com/terminology/law/subject-to-open/"
}

Record 4,816 of 5,439 in Law terminology (MLC-0107). Request the full dataset.