Emily owns a parcel of land and conveys it to Daniel for life, then to Fiona, but if Fiona decides to use the land for commercial purposes within 20 years after Emily's death, then to George. What type of future interest does George hold?
George holds an executory interest because his interest is designed to divest Fiona's interest upon the occurrence of a specific condition, which aligns with the definition of executory interests as distinct from vested or contingent remainders.
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What is an executory interest?
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How does the definition of a vested remainder differ from an executory interest?
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What is a contingent remainder, and how is it different from an executory interest?