700.04 Classification of future interests.
91 words·~1 min read·
/wi/chapter-700/700-04A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
700.04 Classification of future interests. Future interests are classified as:
(1)A reversionary interest left in the transferor or the transferor’s successors in interest, either as a reversion, a possibility of reverter upon the simultaneous creation of a fee simple determinable, or a power of reacquisition; or
(2)An interest created in a person other than the transferor or the transferor’s successors in interest, called a remainder, to take effect at the termination of a preceding interest created at the same time or without the intervention of such a preceding interest.