Mich. Comp. Laws § 554.8 : — REAL AND PERSONAL PROPERTYOF THE NATURE AND QUALITIES OF ESTATES IN REAL AND PERSONAL PROPERTY, AND THE ALIENATION THEREOF — Estates in possession and in expectancy; definition
An estate in possession, is where the owner has an immediate right to the possession of the land; an estate in expectancy is where the right to the possession is postponed to a future period.