Future interests in transferees

Question 1

Executory interests

Answer 1

Future interests in third parties that either divest a transferee’s preceding estate, follow a gap in possession, or cut short a grantor’s estate

Distinguish from remainders:
-Executory interests MUST cut of another’s interest, while remainders are patient and polite

Question 2

Shifting executory interest

Answer 2

Always follows a defeasible fee and cuts someone other than the grantor short

Example:
-O to A but if B returns from Canada, to B and his heirs

Question 3

Springing executory interest

Answer 3

Cuts the grantor’s interest short

Example:
-O to A, if and when she becomes a lawyer