remainder$68935$ - translation to greek
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remainder$68935$ - translation to greek

IN PROPERTY LAW, A FUTURE INTEREST CREATED IN A TRANSFEREE
Vested remainder; Contingent remainder; Special remainder

remainder      
n. υπόλοιπο

Definition

vested remainder
n. the absolute right to receive title after a presently existing interest in real property terminates. A "vested remainder" is created by deed or by a decree of distribution of an estate given by will. Example: "Title to the Hard Luck Ranch to my son, Sean, subject to a life estate to my brother, Douglas." Sean has a "vested remainder" which is an absolute right, Sean could sell to another person at this time, with occupancy delayed until title would pass to him. See also: vest vested

Wikipedia

Remainder (law)

In property law of the United Kingdom and the United States and other common law countries, a remainder is a future interest given to a person (who is referred to as the transferee or remainderman) that is capable of becoming possessory upon the natural end of a prior estate created by the same instrument. Thus, the prior estate must be one that is capable of ending naturally, for example upon the expiration of a term of years or the death of a life tenant. A future interest following a fee simple absolute cannot be a remainder because of the preceding infinite duration.

For example:

A person, A, conveys (gives) a piece of real property called "Blackacre" "to B for life, and then to C and her heirs".
  • B receives a life estate in Blackacre.
  • C holds a remainder, which can become possessory when the prior estate naturally terminates (B's death). However, C cannot claim the property during B's lifetime.

There are two types of remainders in property law: vested and contingent. A vested remainder is held by a specific person without any conditions ("conditions precedent"); a contingent remainder is one for which the holder has not been identified, or for which a condition precedent must be satisfied.(pp 1018–1019)