Estate
The nature, duration, and extent of a person's interest in land — fee simple, life estate, or leasehold.
Present possessory estates pair with future interests. A life estate is followed by a reversion (in the grantor) or a remainder (in a third party); a defeasible fee is followed by a possibility of reverter, right of entry, or executory interest. The Rule Against Perpetuities voids certain contingent future interests that might vest too remotely.
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