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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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11:23
Thanks Howl you're right :D I def talked about solving problems in my PS
12:03
@HowlEngineer: what's your dream school
MildChiller
12:08
"Have you applied for admission to [school] in a prior year" I applied in Oct. of the 23-24 cycle, should I put 23 or 24 as the year I applied?
MildChiller
12:09
Bcuz 2023 is when I technically applied but I applied for admissions in 2024
12:14
2024 cuz that's when you would've been admitted
I agree with Howl
12:19
Gecko what's ur dream school
Hard to say. I'm pretty firmly committed to the philly area so probably temple or villanova
Also relatively debt averse so I'd have to get a good scholarship from BC or Fordham to want to go but that's not very likely for me
Any advice? lol
[] baddestbunny
12:25
what’s a good scholarship for you? what would make BC or Fordham worth it?
12:25
Hmmmm let me think
[] baddestbunny
12:25
fordham’s max aid they give is 45k per year
Bunny I can possibly get a 75%+ scholarship from villanova or temple, and I'd be moving back in with my parents if I went there so I'd have near-zero COL. It'd be really hard to beat that
I would prefer BC over Fordham just because I like boston more, but I'm expecting a WL there tbh
I would maybe consider BC with $ but I don't know how to decide if a better biglaw chance is worth the COL + higher tuition
12:50
How do I know if my status checkers are properly linked
12:59
@ChowieBean: right now, Michigan, but there are several that come close. How about you?
13:05
@Law01: I haven't gotten the status checkers to work at all. When I sent an email to the LSData folks the other week, they said they were working on fixing them
13:10
but I think "Last Checked" would change from "Never" to something else
13:30
@HowlEngineer: I'll get more specific once I get my LSAT score, but NYU, Berk, GTown, UCLA
13:30
Anywhere that's top for PI
14:54
What do people typically write in the 'Optional Statement' for Georgetown
15:25
Yale application is wayyy too much work
15:28
So many apps want 'post-college activities' time to get a fuckin job
15:55
hey guys what happens if we dont have any honors or achievements oof, just don't include a section for it on the resume?
[] baddestbunny
16:01
They make the Yale app a lot of work to filter out the people who don’t really want it like that
16:25
@ChowieBean: i made a silly video for my optional statement :3
letsseehowitgoesnow
16:43
@ChowieBean: I wrote a DS and top 10 list lol
[] baddestbunny
18:35
my cat is cooing like a little pigeon. does anyone have thoughts on this?
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