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Simple English definitions for legal terms

remainder (property law)

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A quick definition of remainder (property law):

A remainder is a type of ownership in real estate that someone will have in the future. This person, called the remainderman, will be able to own and use the property when the current owner's ownership ends naturally, like when a certain number of years pass or when the current owner dies. The remainder must be written in the same document that gives the current ownership to someone else. There are two types of remainders: vested and contingent. A vested remainder means that a specific person will own the property when the current ownership ends. A contingent remainder means that someone will own the property only if certain conditions are met, like if the person who was supposed to own it dies before the current ownership ends. This is different from a reversion, which means the property goes back to the person who originally owned it or their family when the current ownership ends.

A more thorough explanation:

A remainder is a type of future interest in real estate that is transferred to the remainderman or transferee under property law. The remainderman has the right to possess the property at the natural end of a previous property formed by the same instrument. This means that the preceding property must be one that can end naturally, such as when a period of years expires or a life tenant passes away.

A remainder must be included in the same document, such as a deed, that gives the current interest to another person in order for it to be effective. A remainder is different from a "reversion," which gives the title back to the grantor of the property or to the grantor's descendants upon the occurrence of a certain event.

There are two types of remainders in property law: contingent remainders and vested remainders.

A vested remainder is owned by a specified individual and is subject only to the expiration of the preceding property interests. For example, if A grants her brother B the property deed for life, and upon B's death, the land deed to C, B's son, or C's offspring if he does not live. C holds a vested remainder, and his offspring will inherit a "contingent remainder" if C dies before the title passes.

A contingent remainder is one for which the holder has not been identified or for which a condition prior must be met. For example, if A grants her brother B the property deed for life, and upon B's death, the land deed to C if he graduates from college. C holds a contingent remainder because he must meet the condition of graduating from college before he can inherit the property.

In summary, a remainder is a future interest in real estate that is transferred to the remainderman under property law. It is important to distinguish between vested and contingent remainders, as they have different ownership and inheritance rights.

remainder | Remainder (trust law)

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windyMagician
19:23
it doesn't hurt its just tingly
Dkk
19:26
It needs more alcohol. You tingle when your nerves need watering.
19:27
try stretching it maybe to see what's up
windyMagician
19:27
stretches make me think it's just soreness
windyMagician
19:27
I'm sober lol
Dkk
19:38
Anyone else get the google notification that your LSD password has been compromised lol. LSD got hacked.
20:48
what.jpg @Dkk
CynicalOops
21:03
You think you just fell out of a coconut tree?
jackfrost11770
21:10
nope dk
CynicalOops
22:37
Calvinamala Harris
jackfrost11770
23:16
should i start using letterboxed again
Dkk
23:25
@jackfrost11770: if you want but like it aint for me
dk do u ever eat at bk
Dkk
23:48
@chickenburgahfart: I would do that in the Army if really desperate for food or if I had to work through lunch. One of the few fast food places I go to.
bk so slept on
Dkk
0:23
I will take In N Out everyday over it when I can though.
texaslawhopefully
1:22
In N Out is not only the best fast food place, but the prices too are fantastic
Dkk
1:27
Indeed, indeed.
BulbasaurNoLikeCardio
7:51
@texaslawhopefully: best prices and only fast food that doesn't make me sick
matt gaetz ethics report released
paid for sex with a junior in high school
guarantee people still defend him
BulbasaurNoLikeCardio
9:51
I only read headlines and skimmed a random article of it since I am the only one at work this week. Seems like he is Republican Hunter Biden but not at the paying rent with poop paintings stage
ImpartialLion
9:55
Sent in my transcript at 6 am today and it’s processing. Think it will be processed before lsac closes tmrw?
BulbasaurNoLikeCardio
9:58
I would say it is a toss up, for how much LSAC charges us for everything they are extremely efficient in processing and sending stuff out BUT with a 30% uptake in applicants and the holidays it may be significantly slower unless it is ran through and processed by a computer program. Even if it takes them longer to process it, not like there is anyone at a school to request and review it after LSAC does their thing
Do we know if any of the t14 open at all this week
just called Fordham. they said there will be decisions going out today
so congratulations on pre xmas waves
BulbasaurNoLikeCardio
10:27
Hope schools are chill and just send As leaving the Rs for next month lol
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