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Simple English definitions for legal terms

remainder vested subject to open

Read a random definition: appointive asset

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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medicine is a scam
join the ethically ambiguous legal field instead
Dkk
18:57
I want to meet an attorney that defends clients who run into flat earth problems. I want an attorney that knows and believes in flat earth theory.
19:05
i want a flat earther for president. i want a guy who posts on 4chan for president. i want someone who mogs for president.
Dkk
19:18
Exactly. My version of that awful poem.
Dkk
19:19
I can accept a president with maybe one or two of the poems traits hut good God, all of them??? No ty.
windyMagician
19:20
president who respects sex is crazy
windyMagician
19:20
we had bill clinton already
Dkk
19:21
Bill Clinton, first and last black president
windyMagician
19:23
I want to go running but my leg feels weird
windyMagician
19:23
it doesn't hurt its just tingly
Dkk
19:26
It needs more alcohol. You tingle when your nerves need watering.
19:27
try stretching it maybe to see what's up
windyMagician
19:27
stretches make me think it's just soreness
windyMagician
19:27
I'm sober lol
Dkk
19:38
Anyone else get the google notification that your LSD password has been compromised lol. LSD got hacked.
20:48
what.jpg @Dkk
CynicalOops
21:03
You think you just fell out of a coconut tree?
jackfrost11770
21:10
nope dk
CynicalOops
22:37
Calvinamala Harris
jackfrost11770
23:16
should i start using letterboxed again
Dkk
23:25
@jackfrost11770: if you want but like it aint for me
dk do u ever eat at bk
Dkk
23:48
@chickenburgahfart: I would do that in the Army if really desperate for food or if I had to work through lunch. One of the few fast food places I go to.
bk so slept on
Dkk
0:23
I will take In N Out everyday over it when I can though.
texaslawhopefully
1:22
In N Out is not only the best fast food place, but the prices too are fantastic
Dkk
1:27
Indeed, indeed.
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