Non Traditional Law Student

Future Interest

One of the hardest concepts of law for first year law students is the concept called "Future Interest" which all law students learn in their first semester of Property.  Future interest is a right to receive either real or personal property some time in the future, upon a particular date or upon the occurrence of an event.  Depending on the trigger events and the rights of the person holding the future interest and those holding the current interest, different rights are possessed.  A simple example is, I grant my son the right to my house upon my death.  I have the current right to my house and he has a future interest in my house.  However, I can add conditions that can complicate things like, my son can only get the house if he complete college.  If he fails to then the house goes to my daughter and she is still alive at my death otherwise, the house will go to my grandkids assuming I have any.  These new conditions add different rights to each prospective party and changes the nature of the right that I posses in the property.

I personally didn't enjoy studying the subject but understand its importance.  It is a very important concept in wills and trust and in real estate so work through it and figure it out because it will be tested in the State Bar examine in the multi-state portion of the test.  There is always a few questions on it.