future interest(redirected from Defeasable interest)
Also found in: Legal.
In real estate, ownership of a property without the right to use it at present. For example, the owner of an apartment has a future interest if she rents it to a tenant. She may own the apartment, but the tenant has the right to live there. Generally, the owner may enter without permission or at least prior notice.
Interest in land in which the possession and enjoyment are deferred until a future date.