43-3-7. Present or future interest--Time of enjoyment--Right to possession of property. In respect to the time of enjoyment, an interest in property is either present or future.
A present interest entitles the owner to the immediate possession of the property.
A future interest entitles the owner to the possession of the property only at a future period.
Source: CivC 1877, §§ 180 to 182; CL 1887, §§ 2696 to 2698; RCivC 1903, §§ 203 to 205; RC 1919, §§ 273 to 275; SDC 1939, § 51.0215.
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