Arizona Revised Statutes (Last Updated: March 31, 2016) |
Title 33. Property |
Chapter 2. ESTATES |
Article 1. Definitions and Classifications |
Sec 33-204. Estates in expectancy; reversions; future estates; remainders
Latest version.
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A. Estates in expectancy are divided into:
1. Reversions. A reversion is the residue of an estate left in a grantor or his heirs, or in the heirs of a testator, commencing in possession upon the determination of a particular estate granted or devised.
2. Future estates. A future estate is an estate limited to commence in possession at a future time, either without the intervention of a precedent estate or upon the determination, by lapse of time or otherwise, of a precedent estate created at the same time. A future estate dependent upon a precedent estate is a remainder.