\Ex*pect"ance\, Expectancy \Ex*pect"an*cy\, n.
1. The act of expecting; expectation. --Milton.
2. That which is expected, or looked or waited for with
   interest; the object of expectation or hope.
         The expectancy and rose of the fair state. --Shak.
{Estate in expectancy} (Law), one the possession of which a
   person is entitled to have at some future time, either as
   a remainder or reversion, or on the death of some one.
   --Burrill.