Future estates; life estates; remainders

Sec. 3. (a) A freehold estate and a chattel real may be created to begin at a future day. (b) An estate for life: (1) may be created in a term of years with or without the intervention of a precedent estate; and (2) a remainder may be limited on the estate for life. (c) A remainder of a freehold or a chattel real, either contingent or vested, may be created, expectant on the termination of a term of years. [Pre-2002 Recodification Citation: 32-1-2-34.] As added by P.L.2-2002, SEC.2.