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Simple English definitions for legal terms

remainder interest

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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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MIAMI A
[] AromaticTroubledDormouse
20:55
How does one know if they are UR1 or UR2?
[] AromaticTroubledDormouse
20:56
CONGRATS MACAQUE!
TY
got a random stanford email and almost had a heart attack
ALSO CONGRATS!
Congrats1!
21:15
Miami A, yall I'm so excited I could cry.
21:15
Feel like I can finally stop holding my breath!! Whew!!!
[] baddestbunny
22:16
every time I get accosted by a strange man who follows me around because my male coworkers were too busy talking to walk me back to my car I get closer to saying we need to bring back traditional gender roles
Dkk
22:32
Nice! @Macaque
Dkk
22:32
@Aromatic, Have to guess.
Dkk
22:33
That sucks @Bunny do you have to go to the hospital?
[] baddestbunny
22:40
I said accosted not assaulted
23:35
guys. my notre dame address just went long is this good or bad
1a2b3c4d26z
23:37
Oooooo me too
23:37
omg is this good or bad
Dkk
23:47
Idk if gender roles are gunna fix that then.
23:49
it looks like most people who applied in october last cycle didn't get a decision until january... does it even mean anything that our addresses went long??
hows ED 2 compared to ED 1?
Dkk
0:10
No idea
windyMagician
0:34
reporting live to say my ndls address also went long
does it mean anything ^
Dkk
2:21
NDLS and Fordham took a very long time last year. It's good info for people to know.
[] baddestbunny
4:29
let’s get after it boys and girls
Dkk
5:21
I gtg to bed soon.
Dkk
5:22
Big day today. Gunna be a crazy one. I will sleep through the first half.
good morning lsd it is 5 am EST
also jazzy my ndls address went long ages ago i sadly do not think it means anything
my stanford address also went long LOL i think at most it's an indicator it's under review
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