future interests

future interests
Interests in real or personal property, a gift or trust, or other things in which the privilege of possession or of enjoyment is in the future and not present. Commissioner of Internal Revenue v. Wells, C.C.A.6, 132 F.2d 405, 407.
An interest that will come into being at some future point in time. It is distinguished from a present interest which is already in existence. Assume, for example, that D transfers securities to a newly created trust. Under the terms of the trust instrument, income from the securities is to be paid each year to W for her life, with the securities passing to S upon W's death. W has a present interest in the trust since she is currently entitled to receive the income from the securities. S has a future interest since he must wait for W's death to benefit from the trust

Black's law dictionary. . 1990.

Look at other dictionaries:

  • future interests — Remainders, reversions, executory interests, and other interests to come into possession or enjoyment in the future, whether vested or contingent, and whether or not supported by a particular estate. The title of an advanced course on the law of… …   Ballentine's law dictionary

  • future interests — Law. interests in personal or real property, the possession and enjoyment of which are to commence at a later date. * * * …   Universalium

  • future interests — Law. interests in personal or real property, the possession and enjoyment of which are to commence at a later date …   Useful english dictionary

  • Future interests (actuarial science) — Future interests is the subset of actuarial math that divides enjoyment of property usually the right to an income stream either from an annuity, a trust, royalties, or rents based usually on the future survival of one or more persons (natural… …   Wikipedia

  • alienability of future interests — The right of an owner of an interest which vests in possession or enjoyment in the future to transfer such interest beforehand …   Black's law dictionary

  • descendibility of future interests — Legal suitability of a future interest such as a remainder or executory interest to pass by inheritance on death of the holder …   Black's law dictionary

  • future — fu·ture n: a contract traded on an exchange in which a party agrees to buy or sell a quantity of a bulk commodity (as soybeans) at a specified future date and at a set price usu. used in pl. ◇ If the price of the commodity has gone up when the… …   Law dictionary

  • Future interest — This article is about the legal concept of future interests in property. For the actuarial valuation of future streams of income, see Future interests (actuarial science) …   Wikipedia

  • future estates — Estates to vest, either in title or in enjoyment, at a future time, whether or not under a limitation that creates an intervening estate. Moore v Little, 41 NY 66, 75. See expectancies; future interests …   Ballentine's law dictionary

  • future right — A right, expected to mature in the future under a contract already in existence, but conditional rather than absolute. Re New York, N. H. & H. R. Co. (DC Conn) 25 F Supp 874. See future interests …   Ballentine's law dictionary

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