subject to open
Also called subject to partial divestment, subject to open is when an estate is given to a certain class of individuals (e.g. a person's children), and one or more of whom must be already ascertained as part of the class and who has satisfied any conditions precedent to vesting. However, in order to meet the requirements for this estate, other individuals could later be added. In other words, the class is open.
[Last reviewed in June of 2024 by the Wex Definitions Team]
Keywords
Wex
- PROPERTY
- property & real estate law
- trusts
- inheritances & estates
- wex definitions
- property law