What term describes an interest in property that will terminate or fail on the lapse of time or occurrence of a contingency?

What term describes an interest in property that will terminate or fail on the lapse of time or occurrence of a contingency?

• A. Contingent
• B. Terminable
• C. Grantor
• D. Remainder

Answer: (B)

Terminable interest means the property interest will end when a specific time passes or a particular event occurs. This fits the description because the rights are not permanent—they terminate upon the lapse of time or a contingency happening. For example, a grant like “to A for as long as B remains unmarried” ends if B marries, so the interest terminates. This isn’t describing a contingent interest, which is about conditions that must occur before an interest vests, nor is it describing the grantor (the person who creates the interest) or a remainder (a future interest that takes effect after a prior estate ends).

Terminable interest means the property interest will end when a specific time passes or a particular event occurs. This fits the description because the rights are not permanent—they terminate upon the lapse of time or a contingency happening. For example, a grant like “to A for as long as B remains unmarried” ends if B marries, so the interest terminates.

This isn’t describing a contingent interest, which is about conditions that must occur before an interest vests, nor is it describing the grantor (the person who creates the interest) or a remainder (a future interest that takes effect after a prior estate ends).