Property Ownership
In New Mexico, an 'executory interest' in real property is a future interest that:
AIs currently possessory
BWill become possessory upon the happening of a specified condition, cutting off another estate✓ Correct
CIs held by the state government
DRequires execution by a court
Explanation
An executory interest is a future interest held by a third party (not the grantor) that cuts short or follows another estate upon occurrence of a specified condition.
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