Expectancy Legal Meaning and Definition
Here is a simplified definition of the legal term Expectancy.
- The reasonable anticipation or belief in acquiring or benefiting from something in the future, such as real estate property or the contents of a deceased person's estate, based on legality or predictability. This does not guarantee receipt, but offers a probability or likelihood.
- In the context of real estate or inheritance law, it describes a person's prospective interest in property that will be available or distributed in the future.
Example Sentence: When her wealthy aunt passed away, Jane had an expectancy of inheriting the large family home.