Interests in transferee known as:

a.    Vested remainder – a remainder given to an ascertained person and not subject to a condition precedent other than termination of preceding estate.

(1)    indefeasibly vested – a remainder certain to become possessory permanently.

(2)    vested remainder subject to open (or subject to partial divestment) – e.g. a class that has not closed.

(3)    vested remainder subject to divestment – held by an ascertained person and is not subject to a condition precedent, but rather it is subject to a condition subsequent.

b.    Contingent remainder – a remainder created in an unascertained person or subject to a condition precedent.

c.    Executory interest – to be one of these, it must:

(1)    divest or cut some interest in another transferee (called a shifting executory interest), or

(2)    divest the transferor following a certain period of time during which no transferee is entitled to possession (called a springing executory interest).