expectant estates no longer dependent on the continu-
ance of the precedent estate, and the Revised Code of
Mississippi declares the same rule and allows an estate
of inheritance or freehold to commence in futuro.-
Code of 1824, p. 459. See 4 Kent's Com., pp. 253–256.
Much nice learning has been thrown around the sub-
ject of contingent remainders, and many nice distinc-
tions and refinements have accumulated, but in many
of the States, and by this Code, future interests include
all estates in expectancy, vested, and contingent, and
all future interests are descendible, devisable, and
alienable in the same manner as estates in possession,
so that a thorough examination of the common law
rules concerning remainders, and the delicate ques-
tions springing therefrom, must be esteemed as of
more interest in showing the learning and scholarly
attainments of the early law writers rather than as of
any practical utility.

742. No future interest, valid in its creation, is Same. defeated by the determination of the precedent interest before the happening of the contingency on which the future interest is limited to take effect; but should such contingency afterwards happen, the future interest takes effect in the same manner and to the same extent as if the precedent interest had continued to the same period.

NOTE.-See note to preceding section. For varied learning upon the subject of contingent remainders see the admirable work of " Ferne on Contingent Remainders."

TITLE III.

GENERAL DEFINITIONS.

SECTION 748. Income, what.

749. Time of creation, what.

what.

748. The income of property, as the term is used Income, in this Part of the Code, includes the rents and profits of real property, the interest of money, dividends upon stock, and other produce of personal property.

Time of creation, what.

749. The delivery of the grant, where a limitation, condition, or future interest is created by grant, and the death of the testator, where it is created by will, is to be deemed the time of the creation of the limitation, condition, or interest, within the meaning of this Part of the Code.

NOTE.-Lang vs. Ropke, 5 Sandf., pp. 369, 370.

ᏢᎪᎡᎢ II.

REAL OR IMMOVABLE PROPERTY.

TITLE I. GENERAL PROVISIONS.

II. ESTATES IN REAL PROPERTY.

III. RIGHTS AND OBLIGATIONS OF OWNERS.
IV. USES AND TRUSTS.

V. POWERS.

TITLE I.

GENERAL PROVISIONS.

SECTION 755. Real property, how governed.

755. Real property within this State is governed Real

by the law of this State,

2

property, how governed.

in the is

TITLE II.

ESTATES IN REAL PROPERTY.

CHAPTER I. Estates in General.

II. Termination of Estates.
III. Servitudes.

CHAPTER I.

ESTATES IN GENERAL.

SECTION 761. Enumeration of estates.

762. What estate a fee simple.

763. Conditional fees and estates tail abolished.

764. Certain remainders valid.

765. Freeholds. Chattels real.

Chattel interests.

766. Estates for life of a third person, when a freehold, etc.

767. Future estates, what.

768. Reversions.

769. Remainders.

770. Limitations of chattels real.

771. Suspension by trust.

772. Contingent remainder in fee.

773. Remainders, future and contingent estates, how created.

774. Limitation of successive estates for life.

775. Remainder upon estates for life of third person.

776. Contingent remainder on a term of years.

777. Remainder of estates for life.

778. Remainder upon a contingency.

779. Heirs of a tenant for life, when to take as purchasers.

780. Construction of certain remainders.

781. Effect of power of appointment.

761. Estates in real property, in respect to the duration of their enjoyment, are either:

1. Estates of inheritance or perpetual estates;

2. Estates for life;

3. Estates for years; or,

4. Estates at will.

NOTE. "Estates by sufferance" are included in the phrase "Estates at will."

762. Every estate of inheritance, notwithstanding fee simple. the abolition of tenures, continues to be called a fee

simple, or fee; and every such estate, when not defeasible or conditional, is called a fee simple absolute, or an absolute fee.

NOTE.-2 Shars. Blackst. Comm., p. 106; Plowd., p. 557; 1 Preston Est., p. 425; 1 Wash. Real Prop., p. 51. The word "simple" does not add any significance. It is used merely to mark more fully the distinction be

tween an unqualified fee and a fee tail, or any class of
conditional estates.

fees and

estates tail

abolished.

763. Estates tail are abolished, and every estate Conditional which would be at common law adjudged to be a fee tail is a fee simple; and if no valid remainder is limited thereon, is a fee simple absolute.

NOTE.-An inheritable estate which will descend to certain classes of heirs is called an "estate in fee tail," or an "estate tail." The words "heirs of the body of," etc., were the proper words creating such an estate.-1 Washb. Real Prop., pp. 51, 66; see also Bouv. L. Dict., "Estate in fee tail."

remainders

764. Where a remainder in fee is limited upon any Certain estate, which would by the common law be adjudged valid. a fee tail, such remainder is valid as a contingent limitation upon a fee, and vests in possession on the death of the first taker, without issue living at the time of his death.

Chattels

765. Estates of inheritance and for life are called Freeholds. estates of freehold; estates for years are chattels real; real. and estates at will are chattel interests, but are not liable as such to sale on execution.

am

NOTE.-Crabb Real Prop., Sec. 945; 1 Wash. Real Prop., p. 51; 1 Stephen Comm., p. 218. Estates for years, chattels real.-Pugsley vs. Aiken, 11 N. Y., p. 498; Averill vs. Taylor, 8 N. Y., p. 52; Bigelow vs. Finch, 17 Barb., p. 396. Estates at will, chattel interest not liable to sale on execution.-Dickinson vs. Smith, 25 Barb., p. 108; Bigelow vs. Finch, 11 Earb., p. 498.

766. An estate during the life of a third person, whether limited to heirs or otherwise, is a freehold only during the life of the grantee or devisee. his death it is a chattel real.

After

NOTE.-Corresponds to estate per autre vie.-1 Wash. Real Prop., p. 88; 2 Shars. Blackst. Comm., p. 120; Mosher vs. Yost, 33 Barb., p. 277.

Chattel

interests.

767. A future estate may be limited by the act of Future the party to commence in possession at a future day, what.

estates,