Expectancy

The condition of being deferred to a future time, or of dependence upon an expected event; contingency as to possession or enjoyment. With respect to the time of their enjoyment, estates may either be in possession or in expectancy ; and of expectancies there are two sorts, —one created by the act of the parties, calied a "remainder;" the other by act of law, calied a "reversion."

2 Bl. Comm. 163.