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Future Interests - Validity Of Shifting Executory Interest On Event Certain To Occur, Jerome B. Libin S.Ed.

Michigan Law Review

Testator's will provided for alternative devises of his business real estate. If employees of the business exercised an option granted by the will to purchase his partnership interest within eight months after his death, the real estate was to pass to a bank in trust for his daughter and her children. If the option was not exercised within this period, the real estate was to pass to his widow. A residuary clause divided the remainder of his estate equally between his widow, absolutely, and the named bank as trustee. After passage of the eight-month period, testator's daughter sought a declaration …