Remainder (law)

Remainder (law)

A remainder in property law is a future interest given to a person (who is referred to as the transferree or remainderman) that is capable of becoming possessory upon the natural end of a prior estate created by the same instrument. For example, a person, D, gives ("conveys") a piece of real property called 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). However, B cannot claim the property until A's death. There are two types of remainders in property law, vested and contingent. A future interest following a fee simple absolute cannot be a remainder because of the preceding infinite duration.