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Simple English definitions for legal terms

Vested remainder

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A quick definition of Vested remainder:

A vested remainder is a type of future interest in property that means someone has the right to own it in the future, but there are no conditions that need to be met before they can own it. This means that the person who will eventually own the property is already known and there are no requirements they need to fulfill before they can take ownership.

A more thorough explanation:

Definition: A vested remainder is a type of future interest in property that refers to a remainder with an ascertained taker and with no condition precedent. This means that the person who will receive the property after the current owner dies is already known and there are no conditions that need to be met before they can receive it.

Example: John owns a house and wants to leave it to his daughter, Sarah, after he dies. He sets up a trust that gives Sarah a vested remainder in the property. This means that as soon as John dies, Sarah will become the owner of the house without any conditions or requirements.

Explanation: In this example, the vested remainder is Sarah's right to inherit the house after John dies. Because Sarah is an ascertained taker (she is specifically named as the person who will receive the property), and there are no conditions precedent (no requirements that must be met before she can receive the property), her remainder is considered vested.

Example: Mary sets up a trust that gives her son, Tom, a vested remainder in a piece of land. However, the trust also states that if Tom dies before Mary, the land will go to his children. In this case, Tom's remainder is still considered vested because he is an ascertained taker and there are no conditions precedent. However, if Tom were to die before Mary, his children would become the new ascertained takers and would have a vested remainder in the land.

Explanation: In this example, Tom's remainder is still considered vested because he is an ascertained taker and there are no conditions precedent. The fact that the property will go to his children if he dies before Mary does not affect the vested nature of his remainder. However, if Tom were to die before Mary, his children would become the new ascertained takers and would have a vested remainder in the land.

vested ownership | Vestigial words

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Dkk
19:42
SEO is big money
2016 pushed the conservative party into populism irreversibly
Dkk
19:43
Maybe, but if this is populism, then every election is populist.
19:43
@Dkk: yeah register 1 website and every swinging tom dick and harry calls/emails/texts to 'help with seo'. like bruh, if YOU found it, what i am doing is working
Dkk
19:43
Indeed!
19:48
wasp, i think people are hopeful for a gov who at least attempts to care about the common man
MIAMI A
[] AromaticTroubledDormouse
20:55
How does one know if they are UR1 or UR2?
[] AromaticTroubledDormouse
20:56
CONGRATS MACAQUE!
TY
got a random stanford email and almost had a heart attack
ALSO CONGRATS!
Congrats1!
21:15
Miami A, yall I'm so excited I could cry.
21:15
Feel like I can finally stop holding my breath!! Whew!!!
[] baddestbunny
22:16
every time I get accosted by a strange man who follows me around because my male coworkers were too busy talking to walk me back to my car I get closer to saying we need to bring back traditional gender roles
Dkk
22:32
Nice! @Macaque
Dkk
22:32
@Aromatic, Have to guess.
Dkk
22:33
That sucks @Bunny do you have to go to the hospital?
[] baddestbunny
22:40
I said accosted not assaulted
23:35
guys. my notre dame address just went long is this good or bad
1a2b3c4d26z
23:37
Oooooo me too
23:37
omg is this good or bad
Dkk
23:47
Idk if gender roles are gunna fix that then.
23:49
it looks like most people who applied in october last cycle didn't get a decision until january... does it even mean anything that our addresses went long??
hows ED 2 compared to ED 1?
Dkk
0:10
No idea
windyMagician
0:34
reporting live to say my ndls address also went long
does it mean anything ^
Dkk
2:21
NDLS and Fordham took a very long time last year. It's good info for people to know.
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