life in being. Under the rule against perpetuities, anyone alive when a future interest is created, whether or not the person has an interest in the estate. See IN BEING; RULE AGAINST PERPETUITIES. Cf. MEASURING LIFE. [Cases: Perpetuities 4(1). C.J.S. Perpetuities §§ 2, 12, 15–18, 20–24, 27–28, 30, 33, 35–36, 52–53.]
An heir who has a reversionary or future interest in property, or a chance of succeeding to it. — Also termed heir expectant. See REVERSION(1); REMAINDER(1). Cf. prospective heir. [Cases: Descent and Distribution 68. C.J.S. Descent and Distribution § 68.]
De Donis Conditionalibus (dee doh-nis k[schwa]n-dish-ee-[schwa]-nal-i-b[ schwa]s). An English statute, enacted in 1285, that gave rise to the ability to create a fee tail. — Often shortened to De Donis. — Sometimes written de donis conditionalibus. “[T]he statute de donis of 13 Edw. I…. was intended to check the judicial construction, that had, in a
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destructibility of contingent remainders. Property. The common-law doctrine requiring a future interest to vest by the time it is to become possessory or else suffer total destruction (the interest then reverting to the grantor). The doctrine could be avoided by the use of trustees to preserve contingent remainders. • This doctrine has been abolished in
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remainderman. A person who holds or is entitled to receive a remainder. — Also termed remainderer; remainderperson; remainor. [Cases: Remainders 1. C.J.S. Estates §§ 70–71, 77, 79, 81–82.] ulterior remainderman. A third party whose future interest in a property vests only if all the preceding reciprocal interests expire. See cross-remainder under REMAINDER.
entry on the roll. Hist. 1. A clerk’s notation on a parchment roll of the proceedings and issues in a particular case. • Before parties began submitting written pleadings, they would appear (in person or through counsel) in open court and state their respective contentions orally until they settled on the issue or precise point
A third party whose future interest in a property vests only if all the preceding reciprocal interests expire. See cross-remainder under REMAINDER.
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wait-and-see principle. A modification to the rule against perpetuities, under which a court may determine the validity of a contingent future interest based on whether it actually vests within the perpetuities period, rather than on whether it possibly could have vested outside the period. — Also termed second-look doctrine. [Cases: Per-petuities 4. C.J.S. Perpetuities §§
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fraudulent conveyance. 1. A transfer of property for little or no consideration, made for the purpose of hindering or delaying a creditor by putting the property beyond the creditor’s reach; a transaction by which the owner of real or personal property seeks to place the property beyond the reach of creditors. — Also termed fraud
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