43-3-10. Vested future interest defined.A future interest is vested when there is a person in being who would have a right, defeasible or indefeasible, to the immediate possession of the property, upon the ceasing of the intermediate or precedent interest. Source: CivC 1877, §186; CL 1887, §2702; RCivC 1903, §209; RC 1919, §279; SDC 1939, §51.0217.
South Dakota Legal Code