remainder

Property. 1. A future interest arising in a third person — that is, someone other than the estate’s creator, its initial holder, or the heirs of either — who is intended to take after the natural termination of the preceding estate.

• For example, if a grant is “to A for life, and then to B,” B’s future interest is a remainder. If there is only one preceding estate and the remainder vests on that estate’s expiration, the remainder is also termed an executed estate.

— Also termed remainder estate; estate in remainder. Cf. EXECUTORY INTEREST; REVERSION; POSSIBILITY OF REVERTER. [Cases: Remainders 1. C.J.S. Estates §§ 70–71, 77, 79, 81–82.]

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词条贡献者

译员蓉婧，欧洲知名商学院国际金融专业，专注翻译各种与美国证券法律有关的法律文件。