Laws of New York (Last Updated: November 21, 2014) |
EPT Estates, Powers and Trusts |
Article 6. CLASSIFICATION, CREATION, DEFINITION OF, AND RULES GOVERNING ESTATES IN PROPERTY |
Part 3. ESTATES CLASSIFIED AS TO TIME OF ENJOYMENT AND CREATION |
Section 6-3.2. Kinds of future estates
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(a) Future estates are divided into: (1) Estates left in the creator, consisting of: (A) Reversions. (B) Possibilities of reverter. (C) Rights of reacquisition. (2) Estates in favor of a person other than the creator, namely remainders, that are: (A) Indefeasibly vested. (B) Vested subject to open. (C) Vested subject to complete defeasance. (D) Subject to a condition precedent.