remainder
A future estate, possession of which will not be taken until the end of a current estate.
Example. O grants Blackacre from A to B for life, and then to C. B has a life estate (present estate), and C has a remainder (future estate).
See: Future Interest
Definition from Nolo’s Plain-English Law Dictionary
A future interest that will become available when another estate ends. For example, Patricia deeds Happy Acres Ranch to Sally for life, and upon Sally's death to Charla or to Charla's children if Charla does not survive. Charla has a remainder, and her children have a contingent remainder, which they will receive if Charla dies before Sally.
Definition provided by Nolo’s Plain-English Law Dictionary.
August 19, 2010, 5:23 pm
