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in possession

Last modified: Thu Feb 23 16:37:37 2006

To have an interest in land or property `in possession' is to be in a position to enjoy the benefits of that interest right now. Otherwise, an interest is said to be `in remainder'. Both terms are normally used of Freehold interests. Under the current legislation, only `in possession' interests are conveyable.

Another term for an `in possession' interest, commonly used when speaking of a Trust, is a `VestedInterest'. This term is used not only of land and property, but of the income arising from land or property, and for other, lesser interests.

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