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Simple English definitions for legal terms

remainder subject to open

Read a random definition: Defense Legal Services Agency

A quick definition of remainder subject to open:

A remainder subject to open is a type of property interest that is left to a group of people, some of whom are alive at the time of the transfer. This interest can be shared with any additional members who join the group in the future. For example, if a will leaves an estate to a person and their children, any children born after the transfer will also have a share in the estate. This type of interest is different from a contingent interest, which can be lost if certain conditions are not met.

A more thorough explanation:

In property law, a remainder subject to open is a type of future interest that is left to a class of people, some of whom are alive at the time of conveyance, but which can be diminished by others joining the class later on.

For example, if a will leaves an estate to an heir and their heir's children, the children who are alive at the time of conveyance have an interest subject to open. This means that any other children born after the conveyance will also share in the interest.

It's important to note that a remainder interest is vested (subject to open) if at least one member of the class is alive at the time of conveyance. However, this type of interest should not be confused with a contingent interest, which is subject to defeasance if certain conditions are not met.

For instance, if a will states that a child must survive the life tenant in order to acquire interest in the property, then the child's interest is contingent and subject to defeasance if they do not meet the condition of survival.

Overall, a remainder subject to open is a way to ensure that future generations of a family or group can benefit from a property interest, even if they are not yet born at the time of conveyance.

remainder subject to divestment | remainderman

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Denny
14:34
i think ill just use apps script + chat gpt
Denny
14:34
maybe
14:34
two google sheets are your source docs? what is your intended output
Denny
14:34
two sheets in one google doc
Denny
14:35
trying to move stuff based on date & information put in
Denny
14:35
a spreadsheet to be updated daily that tracks inventory i guess
14:36
oh well at least date/time is chronological, so you can set parameters (opposed to values or non quantatiative)
Denny
14:37
i find that date and time get tricky
14:38
google sheets > Data > Data extractor OR Data connector maybe
Denny
14:38
thats to extract from a different sheet tho
Denny
14:38
i just want a new page
14:39
a new page within the same sheet (like on the bottom)
Denny
14:39
yeah
Denny
14:41
basically stuff gets inputted from an external program and the sheet has to decide what to do with it. but every day inventory is refreshed. so i want to paste in the current inventory every day and then use the numbers provided from the external site to track that data and move it if the days out hits 0
Denny
14:41
but i want to maintain accuracy on one sheet while pasting into another
14:44
hmm sounds fun. Maybe look at google apps script or pivot tables? It is hard to say without knowing more info. unfortunately, I am not crazy good with sheets, but I use improve/trial and error to make up for it.
14:45
improv
14:48
im interested/would take a stab at it if you want to email me or jit me on discord with more info, in beacons link
Denny
14:56
bet
Denny
14:56
im gonna sleep on it but ill hit u up on tuesday when after my weekend
15:21
ok
MrThickRopes
15:23
Fo pm td decisions?
Denny
15:47
f p d td?
MrThickRopes
17:07
fo p
180letmein
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buddy it's a saturday
MrThickRopes
22:07
nd yor pointe?
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Llama 3.1 vs claude who would win
MrThickRopes
14:57
Waves TD ????
16:15
@DigiFartHoe: Llama says Gronk
16:16
(Rob Gronkowski)
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