executory interest

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executory interest

A general term used to describe all future interests other than reversions or remainders; an interest that will shift from one owner to another or spring into being upon the happening of some event in the future.

References in periodicals archive ?
It has been proposed that courts have concluded that a "restrictive covenant is an interest in property that cannot be rejected" and that "trustees will be unable to enhance the value of property by rejecting restrictive covenants or executory interests that impair the marketability of the property, pursuant to 11 U.