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LSDefine

Simple English definitions for legal terms

remainder subject to open

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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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lilypadfrog
12:57
我没有决定
atwatodbit
12:57
加油,等一會人一定會開始收好新聞
12:57
@atwatodbit: haha I feel like this cycle its not rlly all ab stats tho
atwatodbit
12:59
@sadpadresfan: for sure, but you're certainly as strong as me though. Hold on whether its later today or weeks from now. Plus you got da berk A, I am jealous
lilypadfrog
12:59
每个人都说“你的考试成绩这么好,你会得到很好的决定”,但我没有!
texaslawhopefully
12:59
oof I think I'm going to miss the penn wave
texaslawhopefully
12:59
are they still calling
Trismegistus
12:59
hey tex me too lmfao
choosingpeace
12:59
@texaslawhopefully: me too yayyy
lilypadfrog
12:59
we did it reddit
13:00
@atwatodbit: haha ty wishing you the best as well
cumsock
13:00
careful! i graduated from reddit university
13:00
@texaslawhopefully: another day another missed wave??
lilypadfrog
13:01
what if I started using redditisms
lilypadfrog
13:01
thank you kind stranger for the gold
Trismegistus
13:01
do all my hopes and dreams and sanity rest on chicago now
texaslawhopefully
13:01
@sadpadresfan: prolly. My only hope is my last name is towards the end of the alphabet
lilypadfrog
13:01
i hope u guys would put me down like a dog that bit a baby
Trismegistus
13:02
@texaslawhopefully: i saw 3/4 down alphabet then 30- mins later 1/2 down alphabet
texaslawhopefully
13:02
so they're still calling?
Trismegistus
13:03
that i dont know
KeenHeartbreakingRattlesnake
13:03
the Penn e wave is about to cook me
atwatodbit
13:03
@sadpadresfan: did you get your Cornell scholly with your A at the same time? I think they gave me nothing...
lilypadfrog
13:04
tex also got cornell scholly ask him
texaslawhopefully
13:04
there's a form you fill out
texaslawhopefully
13:04
and they'll get back to you within a few days
13:04
@atwatodbit: they emailed me a day after submitting the form
atwatodbit
13:05
ah ok, i've seen that, just need to get parental info then. just making sure
13:05
Feeling fortunate and its my top choice as of now haha
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