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Simple English definitions for legal terms

remainder vested subject to open

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A quick definition of remainder vested subject to open:

A remainder is a future interest in property that someone else will get after the current owner dies or their ownership ends. For example, if someone gives their house to their friend for life, and then to their friend's children, the children's interest in the house is a remainder. There are different types of remainders, like vested remainders (when the person who will get the property is already known) and contingent remainders (when the person who will get the property depends on a condition, like if they get married). A remainder subject to open is a type of vested remainder where the property will go to a group of people, like all of someone's children, and more people can be added to the group over time.

A more thorough explanation:

Remainder Vested Subject to Open

Remainder Vested Subject to Open is a type of future interest in property that is given to a class of people whose numbers may change over time and is to be shared equally by each member of the class. The class must have at least one member, but more can be added over time. For example, "to A for life, and then equally to all of B's children."

This type of remainder is vested because it is given to an ascertained person and is not subject to a condition precedent. It is subject to open because the class of people who will receive the property is not yet fully determined and can change over time.

Other types of remainders include:

The examples illustrate how Remainder Vested Subject to Open works. In the example "to A for life, and then equally to all of B's children," the remainder is vested because it is given to a group of people who are already ascertained (B's children). However, it is subject to open because the number of people who will receive the property is not yet fully determined and can change over time if more children are born to B.

remainder subject to partial divestment | remainor

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BulbasaurNoLikeCardio
15:19
I would never go into public office as it drags in your family as well. Dating is so much easier then some people make it out to be and it is not that hard to not cheat. I would always tell my soldiers to rub one out before making a big decision so they arent acting dumb
BulbasaurNoLikeCardio
15:20
Like if more cheaters just paused and rubbed one out they would be like you know maybe ill just watch some TV
babycat
15:20
I've seen some people do a really good job keeping their family out of it. But it really is an "anything they can use against you, they will" type of vibe
babycat
15:21
Ugh I need to go work on essays bye folks
BulbasaurNoLikeCardio
15:22
I don't do anything I can be blackmailed with, I like money too much to be sketch. Have fun doing your essays and a good weekend
15:23
don't have the motivation to work on essays
BulbasaurNoLikeCardio
15:25
I got to work on essays for finals but I'm like that is a next week me problem. I am glad to be done with LS ones. I felt weird talking about myself
babycat
15:28
Bulbasaur if you weren't constrained by location I would say you should apply to Northwestern. They love applicants like you
BulbasaurNoLikeCardio
15:30
@babycat: what makes you say that?
15:31
sorry i already asked this and forgot to check but how much does a masters degree help for admissions? i rly want to go to northwestern or uchicago but im worried about my stats
glovediedthisishismom
15:32
some of you be so focused on the cheese you forgot about the trap
BulbasaurNoLikeCardio
15:32
I have not talked to northwestern or uchicago but the schools I did talked to said graduates are nice but they cant be hard stats to compare to others as not everyone has one
babycat
15:34
@BulbasaurNoLikeCardio: they really like non traditional applicants and older students
babycat
15:35
there are plenty of non trads who get admitted to nw with below median stats bc of their stories
snow
15:37
i want NW bad
JumpySubsequentDolphin
15:37
@glovediedthisishismom: im gonna get this tattooed
snow
15:38
hoping my 3 years of legal experience help!
BulbasaurNoLikeCardio
15:38
Im not that old lmao Ill see if I can convince the wife to allow me to apply and research the area more. Just worried that I wont have that intellect that a rank 9 school would need
snow
15:38
shoot your shot bulb
snow
15:38
dont tell yourself that.
BulbasaurNoLikeCardio
15:40
I think babycat just wants me close for when she gets into Uchicago lol For me the locations of the school and environment around it matters a lot
soap
15:42
Are you in an open marriage?
babycat
15:42
@BulbasaurNoLikeCardio: aw of course I want you around but I was thinking of the 7sage diversity statement in their admissions course where this guy writes about how he and his wife take in foster kids. he got into NW with below median LSAT. you have significant past adversity and interesting work experience I would shoot your shot
babycat
15:43
and I honestly don't think the t14 require significantly more intellect than any other law school. the content is pretty much the same
15:44
the rigor of the T14 law schools is almost entirely the result of who they allow to attend
BulbasaurNoLikeCardio
15:44
Well so far Vandy is highest ranked I went for, hopefully they like me. Its not really the academics/rigor. Following rules and meeting standard is easy it is the competition for class rank and with other students that I think would be my greatest struggle
JumpySubsequentDolphin
15:45
but doesn’t grade inflation at the top schools almost make it easier to get higher grades than it does at >t14
babycat
15:45
@info-man: agreed
babycat
15:48
just my opinion but grade inflation is probably more of an undergrad thing since law school grades tend to be on a curve
shaquilleoatmeal
15:49
Leaving the office just now and this chic is blasting glorilla in the elevator...doesn't match our work location vibe lmao
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