Definitions for "Remainder Estate" Add To Word List
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Keywords: Vests, Quibb, Cora, Phigg, Clink
A future interest in a property created in someone other than the grantor, which is or may become possessory upon the natural expiration of the prior particular estate.
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An estate created by single grant simultaneously with another which vests with a third party after termination of the prior estate; such as a life state.
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An estate created to follow another and limited to begin upon the termination of Ac companion estate, such as the remainder estate that follows a life estate.
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A future interest in real estate created at the time and by the same instrument of the original estate, but limited its immediate authority upon the termination of the prior estate. For example, Hoe Phigg owns a property in fee simple and conveys the property "to Barry Clink and upon Clink's death, to Cora Quibb and her heirs." Cora Quibb has a remainder estate, which is vested because the estate automatically passes to Cora Quibb and her heirs upon the death of Barry Clink.
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A future interest in real estate created at the same time and by the same instrument as another estate, and limited to arise immediately upon the termination of the prior estate.
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