43-3-21. Perpetual or limited interest in property--Duration of enjoyment. In respect to the time of enjoyment, an interest in property is either perpetual or limited.
A perpetual interest has a duration equal to that of the property.
A limited interest has a duration less than that of the property.
Source: CivC 1877, §§ 180, 183, 184; CL 1887, §§ 2696, 2699, 2700; RCivC 1903, §§ 203, 206, 207; RC 1919, §§ 276, 277; SDC 1939, § 51.0215.
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