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Simple English definitions for legal terms

remainder interest

Read a random definition: marital-communications privilege

A quick definition of remainder interest:

Remainder interest refers to the property that is passed on to a beneficiary after an income interest has ended. This means that if someone puts their property in a trust and designates that the income from the property goes to one person for their lifetime, then after that person passes away, the property will go to another person, known as the remainder beneficiary.

A more thorough explanation:

Definition: Remainder interest refers to the property that is passed on to a beneficiary after the end of an intervening income interest.

Example: A grantor places a piece of real estate in trust with the income going to A for their lifetime. After A's death, the property passes on to B. In this case, B has a remainder interest in the property.

Another example could be a trust set up for a child's education. The income from the trust is used to pay for the child's education, and after they graduate, the remainder of the trust is passed on to another beneficiary.

These examples illustrate how a remainder interest works. It is a way to ensure that property or assets are used for a specific purpose or person during a certain period, with the remainder going to another beneficiary after that time has passed.

remainder indefeasibly vested | remainder subject to partial divestment

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THATS SO FUNNY
i cant i would go crazy
JumpySubsequentDolphin
20:50
i need to know who decided to do that.
JumpySubsequentDolphin
20:50
omg im on a plane weeeee
the devil
youre on a plane??? LSD made the mile high club??
20:50
yo splitterus are you in school already
20:50
it says ur c/o 2027
JumpySubsequentDolphin
20:51
@SplitterusClitterus: HAHAH yes
ur user is hilarioussss and no i just graduated this may and am now applying ---also im out of messages so ill take a lil
20:52
roger dat. see u in heck
im back, r u applying this cycle too
JumpySubsequentDolphin
21:32
this child fell asleep on me
JumpySubsequentDolphin
21:32
im so uncomfortable
just push him off the entire seat
JumpySubsequentDolphin
21:34
LMAOOOO
JumpySubsequentDolphin
21:35
no he’s literally like 8 and he fully just put his head on my bicep and slept
JumpySubsequentDolphin
21:35
he has since moved
22:12
@SplitterusClitterus: me yesterday
gulc baby pls text me back... i miss you ...... :(
22:23
i just went into a discord vc and yelled "YALL I JUST GOT INTO J.M. SCHOOL OF LAW"
22:24
people were getting excited :sob:
22:25
then someone was like "what does jm stand for" and i was like .. well
AHHAHAHAHAHAHHAHAHAHAHAHAH
@JumpySubsequentDolphin: wait this is so cute, also where r u going
JOE MBIDEN
JumpySubsequentDolphin
22:39
@splitty Oregon!
oh yay for what thats so random
JumpySubsequentDolphin
22:45
haha my brother and sister in law live there
so cutie oregon is beatiful
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