Expectancy


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Expectancy

A mere hope, based upon no direct provision, promise, or trust. An expectancy is the possibility of receiving a thing, rather than having a vested interest in it.

The term has been applied to situations where an individual hopes and expects to receive something, generally property or money, but has no founded assurance of possession. A person named in a will as an heir has only an expectancy to inherit under the will, since there exists a possibility that the will may be altered so as to disinherit him or her.

expectancy

n. a possibility of future enjoyment of something one counts on receiving, usually referring to real property or the estate of a deceased person, such as a remainder, reversion, or distribution after the death of someone who has use for life. (See: remainder, reversion, distribution)

See: claim, expectation, likelihood, outlook, possibility, prospect, remainder, right

EXPECTANCY, estates. Having a relation to or dependence upon something future.
     2. Estates are of two sorts, either in possession, sometimes called estates executed; or in expectancy, which are executory. Expectancies are, first, created by the parties, called a remainder; or by act of law, called a reversion.
     3. A bargain in relation to an expectancy is, in general, considered invalid. 2 Ves. 157; Sel. Cas. in Ch. 8; 1 Bro. C. C. 10; Jer. Eq. Jur. 397.

References in classic literature ?
Bellegarde had been looking at him with quickened expectancy, and with the smile with which he had greeted Newman's allusion to his promised request.
To me, with my nerves worked up to a pitch of expectancy, there was something depressing and subduing in the sudden gloom, and in the cold dank air of the vault.
He waited in expectancy to discern some mental pointing; he knew that if any intention of his, concluded over-night, did not vanish in the light of morning, it stood on a basis approximating to one of pure reason, even if initiated by impulse of feeling; that it was so far, therefore, to be trusted.
She stood perfectly still, looking after him, in an attitude of tranquil expectancy torturing to the hidden watcher.
The frightened slaves about her trembled in wide-eyed expectancy, knowing not whether to pray for our victory or our defeat.
We sailed from Smyrna, in the wildest spirit of expectancy, for the chief feature, the grand goal of the expedition, was near at hand--we were approaching the Holy Land
Suddenly it became as midnight; the noises of the jungle ceased; the trees stood motionless as though in paralyzed expectancy of some great and imminent disaster.
Those who were in the dimly lit reception room spoke in nervous whispers, and, whenever anyone went into or came from the dying man's room, grew silent and gazed with eyes full of curiosity or expectancy at his door, which creaked slightly when opened.
She stood looking at them with a smile of expectancy on her face, as if a scene from the drama of the younger generation were being played for her benefit.
It was carried carefully from house to house, as if it were itself a child; my mother made much of it, smoothed it out, petted it, smiled to it before putting it into the arms of those to whom it was being lent; she was in our pew to see it borne magnificently (something inside it now) down the aisle to the pulpit-side, when a stir of expectancy went through the church and we kicked each other's feet beneath the book-board but were reverent in the face; and however the child might behave, laughing brazenly or skirling to its mother's shame, and whatever the father as he held it up might do, look doited probably and bow at the wrong time, the christening robe of long experience helped them through.
Tara's tone was insistent and she leaned a little forward toward the officer, her lips slightly parted in expectancy.
It was agreeable to contemplate; for it made the fireside warmer in possession, and the summer greener in expectancy.