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You are sitting in your psychology class, and you do not understand what the professor is saying. You would like to ask a question, but as you look around the room, you see others quietly taking notes, and it looks like they understand. Nobody is asking questions, so you don't either. As it turns out, the majority of the students are thinking just as you are, so nobody asks any questions. This situation illustrates the concept of
Future Interest
A legal right to property or ownership that will begin in the future, not immediate possession.
Entire Interest
Legal term describing the complete ownership or stake that a party has in property or a contractual agreement.
Grantor
The person or entity who transfers property rights to another, often used in the context of trusts and real estate.
Burns Down
Refers to the act of a structure being destroyed or damaged by fire.
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