Expectancy Legal Meaning and Definition

Here is a simplified definition of the legal term Expectancy.

Expectancy (noun)

1. 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.
2. 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.