An executory devise refers to the situation where an individual bequeaths property to another person in their will, but its implementation is contingent upon a specific future event. For instance, if someone leaves their house to their child, but only if the child enters into marriage. This provision operates as a unique condition that solely applies if a particular circumstance occurs, distinguishing it from a straightforward bequest of property in a will.
An executory devise is an interest in land that is created by a will and takes effect in the future, contingent upon a future event. It is a type of conditional limitation that differs from a remainder in three ways: (1) it does not require a specific estate to support it, (2) it allows for the limitation of a fee simple or lesser estate after a fee simple, and (3) it allows for the limitation of a remainder in a chattel interest after a life estate is created in that interest. For example, if a person includes a provision in their will stating that their house will be given to their daughter only if she graduates from college, then this provision is considered an executory devise. The daughter will only receive the house if she fulfils the condition of graduating from college. This example demonstrates how an executory devise is a future interest that is dependent on a future event. The daughter will only receive the house if she fulfils the condition of graduating from college, which is uncertain at the time the will is written.
An executory devise is a legal term referring to a provision in a will that transfers property to a beneficiary upon the occurrence of a specific event or condition.
Unlike a regular devise, which transfers property immediately upon the testator’s death, an executory devise only takes effect upon the occurrence of a specified event or condition.
Common examples of executory devises include provisions in a will that transfer property to a beneficiary only if they graduate from college, get married, or reach a certain age.
Yes, an executory devise can be revoked or changed by the testator as long as they are still alive and have the mental capacity to make such changes.
Yes, an executory devise can be challenged in court if there are grounds to believe that the condition or event specified in the provision is impossible to fulfill or against public policy.
If the specified event or condition for an executory devise does not occur, the property will not be transferred to the beneficiary, and it may be distributed according to other provisions in the will or the laws of intestacy.
No, an executory devise cannot be enforced if the specified event or condition is uncertain or too vague. The condition must be clear and definite for the devise to be valid.
Yes, other beneficiaries or interested parties may challenge an executory devise if they believe it violates their rights or if there are issues with the validity or interpretation of the provision.
Yes, an executory devise can also be created through other legal instruments, such as a trust agreement or a contract, as long as the necessary legal requirements are met.
Yes, it is highly recommended to consult an experienced attorney when including an executory devise in your estate planning. They can provide guidance on drafting the provision correctly and ensure it aligns with your overall estate planning goals.
This site contains general legal information but does not constitute professional legal advice for your particular situation. Persuing this glossary does not create an attorney-client or legal adviser relationship. If you have specific questions, please consult a qualified attorney licensed in your jurisdiction.
This glossary post was last updated: 17th April 2024.
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