What is a future estate?

A future estate refers to a type of property interest where an individual's rights to the property do not begin until a specified event occurs, typically the end of a current estate. In the context of a life estate, for instance, an individual may hold the life estate for their lifetime, while the future estate is set to begin after their death. This creates a direct relationship between the life tenant (the one with the life estate) and the future interest holder, where the future interest holder's rights to the property will come into existence once the life estate ends. This connection is fundamental to the concept of future estates, differentiating them from other types of property ownership that may not involve a definable event leading to a transfer of rights.

The other options do not accurately describe the concept of a future estate. For example, a lease typically pertains to temporary arrangements rather than future interests tied to ownership transfer after a specific event. Temporary ownership arrangements suggest a more transient control over a property that does not align with the specific future occurrence that defines a future estate. Similarly, ownership being voided after a certain period pertains to a different legal principle, usually involving limiting conditions rather than the activation of rights upon the fulfillment of an event like the end of a life estate