in praesenti grant

the company took a present title, as of the date of the act, to the lands embraced by the terms of the grant; the words 'that there be, and hereby is, granted' importing 'a transfer of present title, not a promise to transfer one in the future.' ... 'the route not being at the time determined, the grant was in the nature of a float, and the title did not attach to any specific section until they were capable of identification; but, when once identified, the title attached to them as of the date of the grant, except as to such sections as were specifically reserved.