1. C.J.S. Estates §§ 2–5, 8, 15–21, 116–128, 137, 243.]
“What is an executory interest? Here is a pretty good definition: An executory interest is any future interest created in a person other than the transferor that is not a remainder. Here are five classic examples of executory interest: (1) O transfers ‘to A for life; then, one day after A’s death, to the heirs of A.’ The transfer creates a springing executory interest in those who will be A’s heirs. (2) O transfers ‘to A for 200 years if he shall so long live, then to the heirs of A.’ This transfer also creates a springing executory interest in A’s prospective heirs. (3) O transfers ‘to A and his heirs five years from the date of this deed.’ A owns a springing executory interest. (4) O, when B is fifteen, transfers ‘to A for life; then no sooner than one day after A’s death, to B and his heirs if B ever reaches 21.’ B owns a springing executory interest. (5) O transfers ‘to A and his heirs; but if A marries X, to B and his heirs.’ B owns a shifting executory interest.” Thomas F. Bergin & Paul G. Haskell, Preface to Estates in Land and Future Interests 80 (2d ed. 1984).
shifting executory interest. An executory interest that operates in defeasance of an interest created simultaneously in a third person.
springing executory interest. An executory interest that operates in defeasance of an interest left in the transferor.
