A. Future estates: The estates discussed in the previous chapter are ones which are possessory, or present. The common law also recognizes, however, a number of estates that are non-possessory. Since these estates may or will become possessory in the future, they are commonly referred to as future estates.
1. Estate exists in present even though not now possessory: These future estates, even though they are not possessory, nonetheless exist in the present. For instance, suppose A conveys Blackacre “to B for life, remainder in fee simple to C and his heirs”. At the time of conveyance, C has a remainder in fee simple; it is only the aspect of possession that is future.
B. Five estates: There are five kinds of future estates, each of which will be discussed in this chapter: