70-1-323. Future interest -- when vested. A future interest is vested when there is a person in being who would have a right, defeasible or indefeasible, to the immediate possession of the property upon the ceasing of the intermediate or precedent interest.
History: En. Sec. 1115, Civ. C. 1895; re-en. Sec. 4448, Rev. C. 1907; re-en. Sec. 6690, R.C.M. 1921; Cal. Civ. C. Sec. 694; Field Civ. C. Sec. 186; re-en. Sec. 6690, R.C.M. 1935; R.C.M. 1947, 67-320.
Structure Montana Code Annotated
Chapter 1. Property in General Real and Personal
Part 3. Kinds of Ownership Interests
70-1-301. Interests in real property specially named elsewhere
70-1-302. Ownership -- absolute or qualified
70-1-303. When ownership absolute
70-1-304. When ownership qualified
70-1-305. Ownership by single person
70-1-306. Ownership by several persons -- types
70-1-307. Joint interest defined
70-1-308. Safe deposit box -- joint tenancy
70-1-310. Action by or against joint tenants or tenants in common
70-1-312. Partnership interest defined
70-1-313. Interest in common defined
70-1-314. Interest in common -- how created
70-1-315. Interest as to time of enjoyment
70-1-316. Present interest -- to what entitles owner
70-1-317. Future interest -- to what entitles owner
70-1-318. What future interests recognized
70-1-319. Mere possibility not an interest
70-1-320. Perpetual interest -- duration
70-1-321. Limited interest -- duration
70-1-322. Kinds of future interests
70-1-323. Future interest -- when vested
70-1-324. Future interest -- when contingent