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Shifting executory interest

Related Terms:

estate in land springing executory interest grant third party defeasible fee condition executory interest divest fee simple subject to executory interest fee simple subject to executory limitation grantor

Noun

Definition: A third party interest in an estate in land created by the conditions of a grant wherein the grantor gives the land to a second party, but with the occurrence of a condition divesting the second party of the land in favor of the third party.

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