10:38
Very happy with LR other than having to guess on a couple questions cuz of time
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LSDefine
Simple English definitions for legal terms
remainder subject to a condition precedent
Read a random definition: percepti sed non consumpti
A quick definition of remainder subject to a condition precedent:
Remainder subject to a condition precedent is when someone will inherit property only if certain things happen in the future. For example, if someone's brother is still alive when they die, or if the family's farm is still being used. This is also called a contingent remainder.
A more thorough explanation:
Definition: A remainder subject to a condition precedent, also known as a contingent remainder, is a future interest in property that will only pass to a person or entity if certain conditions are met at the time of the title-holder's death. These conditions are usually uncertain or unknown at the time the interest is created.
Example 1: John leaves his house to his daughter, Sarah, but only if she graduates from college. If Sarah does not graduate from college, the house will go to John's son, Michael. In this example, Sarah has a contingent remainder because she will only inherit the house if she meets the condition of graduating from college.
Example 2: Mary leaves her farm to her son, Tom, but only if he continues to operate the farm for at least five years after her death. If Tom does not continue to operate the farm, the farm will go to Mary's daughter, Jane. In this example, Tom has a contingent remainder because he will only inherit the farm if he meets the condition of operating it for at least five years after Mary's death.
These examples illustrate how a remainder subject to a condition precedent is a future interest in property that is dependent on certain conditions being met. The person or entity who will inherit the property is uncertain until the condition is fulfilled or not fulfilled.