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remainder


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N.

An interest in land that comes into effect in possession only when a prior interest ends. For example if A settles land on B for life then on C in fee simple, C's interest is in remainder until B dies. All interests in remainder are necessarily equitable (see fee simple absolute in possession). A settlement may create several successive remainders; for example, a settlement on A for life, remainder to B for life, remainder to C in tail, remainder to D in fee simple. B, C, and D are called remaindermen. There can be no remainder after a fee simple. See also reversion.

Subjects: Law.


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