remainder

The remnant of an estate in land, depending upon a particular prior estate created at the same time and by the same instrument, and limited to arise immediately on the determination of that estate, and not in abridgement of it. A future interest created in some person other than the grantor or transferor. Folden v. Folden, Ohio App., 188 N.E.2d 193, 194.

The property that passes to a beneficiary after the expiration of an intervening income interest. If, for example, G. places real estate in trust with income to A. for life and remainder to B. upon A.'s death, B. has a remainder interest. An estate limited to take effect and be enjoyed after another estate is determined. As, if a man seised in fee-simple grants lands to A. for twenty years, and, after the determination of the said term, then to B. and his heirs forever, here A. is tenant for years, remainder to B. in fee.

An estate in reversion is the residue of an estate, usually the fee left in the grantor and his heirs after the determination of a particular estate which he has granted out of it. The rights of the reversioner are the same as those of a vested remainderman in fee. In will, the terms rest, residue, and remainder of estate are usually and ordinarily understood as meaning that part of the estate which is left after all of the other provisions of the will have been satisfied.

See also cross remainder

- defeasibly vested remainder

- life estate

- reversionary interest

Compare reversion or estate in reversion.

@ charitable remainder

A gift over to a charity generally after a life estate. It may be vested or contingent.

+ charitable remainder

A gift over after an intervening estate to a qualified charity; qualifies as a tax deduction under certain conditions

@ contingent remainder

One which is either limited to a person not in being or not certain or ascertained, or so limited to a certain person that his right to the estate depends upon some contingent event in the future. Maryland Nat. Bank v. Comptroller of Treasury, 264 Md. 536, 287 A.2d 291, 294.

An estate in remainder which is limited to take effect either to a dubious and uncertain person, or upon a dubious and uncertain event, by which no present or particular interest passes to the remainder-man, so that the particular estate may chance to be determined and the remainder never take effect. A remainder limited so as to depend upon an event or condition which may never happen or be performed, or which may not happen or be performed till after the determination of the preceding estate.

@ cross-remainder

Where land is devised or conveyed to two or more persons as tenants in common, or where different parts of the same land are given to such persons in severalty, with such limitations that, upon the determination of the particular estate of either, his share is to pass to the other, to the entire exclusion of the ultimate remainderman or reversioner until all the particular estates shall be exhausted, the remainders so limited are called "cross-remainders."

In wills, such remainders may arise by implication; but, in deeds, only by express limitation.

@ executed remainder

A remainder which vests a present interest in the tenant, though the enjoyment is postponed to the future.

@ executory remainder

A contingent remainder; one which exists where the estate is limited to take effect either to a dubious and uncertain person or upon a dubious and uncertain event.

@ vested remainder

An estate by which a present interest passes to the party, though to be enjoyed in futuro, and by which the estate is invariably fixed to remain to a determinate person after the particular estate has been spent. One limited to a certain person at a certain time or upon the happening of a necessary event

@ remainder interest

The property that passes to a beneficiary after the expiration of an intervening income interest. If, for example, G places real estate in trust with income to A for life and remainder to B upon A's death, B has a remainder interest

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