Future Interest
Definition of "Future interest"
An interest in property with the right o possession being postponed into the future until a certain even occurs. There are several possibilities where a future interest in property could occur. One possibility is a present life estate which will pass to another individual having a future interest as a fee simple estate. Other opportunities for a future interest occur with a reversion and/or a remainder.
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Defect in the tax law that either may provide a loophole to minimize the tax payment or result in higher taxes than there should be. ...
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