Terminable Interest
/ˈtɜːrmɪnəbl ˈɪntrəst/
Definitions
- (n.) An interest in property that will terminate upon the happening of a specified event or the expiration of a fixed period.
The tenant held a terminable interest that ended at the death of the property owner.
Forms
- terminable interests
Related terms
See also
Commentary
A terminable interest typically involves a limited duration or condition; drafters should clearly specify the event or time of termination to avoid ambiguity.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.