| Remainder (law) |
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A remainder in Property Law is a Future Interest created in a transferee that is capable of becoming possessory upon the natural termination of a prior estate created by the same instrument. For example, D devises Blackacre “to A for life, and then to B and her heirs.” A receives a life estate in Blackacre and B holds a remainder which is capable of becoming possessory when the prior estate naturally terminates (A’s death). B cannot claim the property UNTIL A's death however. There are two types of remainders in property law, vested and contingent. VESTED REMAINDER A remainder is vested if (1) the remainder is given to an ascertained person, and (2) it is not subject to a condition precedent. An example, O conveys to "A for life, the to B and her heirs." B has an indefeasibly vested remainder certain to become possessory upon termination of A's life estate. CONTINGENT REMAINDER A remainder is contingent if (1) it si given to an unascertained person or (2) it is made contingent upon some event occurring other than the natural termination of the preceding estates. For example, O conveys to "A for life, then to the heirs of B." B is alive. The remainder is contingent because the heirs of B cannot be ascertained until B dies. No living person has heirs, only heirs apparent. REVIEW
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