N.Y. Estates, Powers and Trusts Law 6-3.3 – Concerning the creation of certain future estates
Current as of: 2024 | Check for updates
|
Other versions
§ 6-3.3 Concerning the creation of certain future estates
Terms Used In N.Y. Estates, Powers and Trusts Law 6-3.3
- Precedent: A court decision in an earlier case with facts and law similar to a dispute currently before a court. Precedent will ordinarily govern the decision of a later similar case, unless a party can show that it was wrongly decided or that it differed in some significant way.
(a) Subject to the provisions of article 9:
(1) An estate may be created to commence at a future time.
(2) An estate for life may be created in a term of years and a future estate limited thereon.
(3) A future estate may be limited after a term of years, provided that, if such future estate is subject to a condition precedent, the condition must occur within the period prescribed by article 9.
(4) A fee or a lesser estate may be limited on a fee, subject to a condition precedent which must occur within the period prescribed by article 9.