§ 39-6.3. Inter vivos and testamentary conveyances of future interests permitted.
§39‑6.3. Inter vivos and testamentary conveyances of future interestspermitted.
(a) The conveyance, bydeed or will, of an existing future interest shall not be ineffective on thesole ground that the interest so conveyed is future or contingent. All futureinterests in real or personal property, including all reversions, executoryinterests, vested and contingent remainders, rights of entry both before andafter breach of condition and possibilities of reverter may be conveyed by theowner thereof, by an otherwise legally effective conveyance, inter vivos ortestamentary, subject, however, to all conditions and limitations to which suchfuture interest is subject.
(b) The power to conveyas provided in subsection (a), can be exercised by any form of conveyance,inter vivos or testamentary, which is otherwise legally effective in this Stateat the date of such conveyance to transfer a present estate of the sameduration in the property.
(c) This section shallapply only to conveyances which become operative to transfer title on or afterOctober 1, 1961. (1961, c. 435.)