Future interests
Encyclopedia
Future interests is the subset of actuarial math that divides enjoyment of property
-- usually the right to an income stream either from an annuity, a trust
, royalties
, or rent
s -- based usually on the future survival of one or more persons (natural humans, not juridical persons such as corporation
s).
Property
Property is any physical or intangible entity that is owned by a person or jointly by a group of people or a legal entity like a corporation...
-- usually the right to an income stream either from an annuity, a trust
Trust law
In common law legal systems, a trust is a relationship whereby property is held by one party for the benefit of another...
, royalties
Royalties
Royalties are usage-based payments made by one party to another for the right to ongoing use of an asset, sometimes an intellectual property...
, or rent
Renting
Renting is an agreement where a payment is made for the temporary use of a good, service or property owned by another. A gross lease is when the tenant pays a flat rental amount and the landlord pays for all property charges regularly incurred by the ownership from landowners...
s -- based usually on the future survival of one or more persons (natural humans, not juridical persons such as corporation
Corporation
A corporation is created under the laws of a state as a separate legal entity that has privileges and liabilities that are distinct from those of its members. There are many different forms of corporations, most of which are used to conduct business. Early corporations were established by charter...
s).