14:47
to apply it. I love it- looking like a 155-170+ in a few months for me
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Simple English definitions for legal terms
indefeasibly vested remainder
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A quick definition of indefeasibly vested remainder:
An indefeasibly vested remainder is a type of future interest in property that goes to someone other than the person who created the estate or their heirs. It happens after the current estate ends. For example, if a grant is "to A for life, and then to B," B's future interest is a remainder. If there is only one preceding estate and the remainder vests on that estate's expiration, the remainder is also termed an executed estate. It is a type of vested remainder that is not subject to a condition subsequent, meaning the person who will receive the property is certain to acquire it in the future and will be entitled to keep it permanently.A more thorough explanation:
Definition: An indefeasibly vested remainder is a future interest in a third person, who is intended to take after the natural termination of the preceding estate. It is a type of remainder that is not subject to any condition subsequent and is certain to acquire a present interest sometime in the future.
Example: If a grant is “to A for life, and then to B,” B's future interest is an indefeasibly vested remainder. This means that B is certain to acquire the property after A's death, and there are no conditions that could prevent B from taking possession of the property.
Explanation: An indefeasibly vested remainder is a type of remainder that is not subject to any condition subsequent. This means that the remainderman is certain to acquire a present interest sometime in the future and will be entitled to retain the interest permanently. In the example given, B's interest in the property is certain and cannot be taken away by any condition subsequent. B will acquire the property after A's death, and there are no conditions that could prevent B from taking possession of the property.