Executory interest

Okay, so imagine that you have a piece of candy. That candy is currently in your hand, but you promised your little brother or sister that they could have it when they finish their homework. That promise you made is like an executory interest.

Basically, an executory interest is a promise or agreement that something will happen in the future, but it hasn't happened yet. It's kind of like a plan for something that's going to happen later on.

For example, let's say your mom promises to give you a dollar if you help clean the house. The dollar she promised is an executory interest, because she hasn't actually given it to you yet. It's still a future plan that's going to happen once you finish your cleaning chores.

So, an executory interest is a way of making a promise about something that will happen in the future, but it's not in effect yet. It's like a little kid promising to share their candy once they're finished with it - they haven't actually shared it yet, but they have made a promise to do so.