Remainder in United States
Remainder Definition
The remnant of an estate in lands or tenements expectant on a particular estate created together with the same at one time. Co. Litt. 143a. To constitute a valid remainder at common law, the estate in remainder must be created (1) on purchase (2 Washb. Real Prop. 586) ; (2) at the same time with a particular estate (2 Bl. Comm. 167) ; (3) less than a fee (Id. 164) ; and (4) must vest in the grantee during the continuance of the particular estate, or eo instanti that it determines, so that the freehold shall not remain in abeyance (Id. 168) ; but (5) the remainder must rest on the natural termination of the particular estate, and not be in defeasance of it (Fearae, Cont. Rem. 13). In the United States. The term remainder is applied to various estates in expectancy, limited on precedent estates which do not fulfill all the requirements of the common law. Remainders are either vested or contingent.
(1) A vested remainder is one by which a present interest passes to the party, though to be enjoyed in the future, and by which the estate is invariably fixed to remain to a determinate person after the particular estate is spent. A determinate remainderman in esse at the time of its creation is essential to a vested remainder. A future estate is vested where there is a person in being who would have an immediate right to the lands on the ceasing of the immediate or precedent estate. 1 Rev St. N. Y. c. 1, tit. 2, § 13. This definition has been justly criticised so far as it is intended to be declaratory of the common law, in that it omits the essential that the person who shall take the remainder shall be ascertained before the termination of the particular estate.
(2) A contingent remainder is one where the estate in remainder is limited to take effect either to a dubious and uncertain person, or upon a dubious and uncertain event, so that the particular . estate may chance to be determined, and the remainder never take effect 2 Bl. Comm. 169. A remainder which, as regards the possession or enjoyment, depends on a contingency other than the survival of the reREMAINDERMAN mainderman. Smith, Ex. Int. § 171. It is not the uncertainty of enjoyment in future, but the uncertainty of the right to that enjoyment, which marks the difference between a vested and a contingent interest. 4 Kent, Comm. 206; 2 Cruise, Dig. 270.
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Legal Issue for Attorneys
The remnant of an estate in lands or tenements expectant on a particular estate created together with the same at one time. Co. Litt. 143a. To constitute a valid remainder at common law, the estate in remainder must be created (1) on purchase (2 Washb. Real Prop. 586) ; (2) at the same time with a particular estate (2 Bl. Comm. 167) ; (3) less than a fee (Id. 164) ; and (4) must vest in the grantee during the continuance of the particular estate, or eo instanti that it determines, so that the freehold shall not remain in abeyance (Id. 168) ; but (5) the remainder must rest on the natural termination of the particular estate, and not be in defeasance of it (Fearae, Cont. Rem. 13). In the United States. The term remainder is applied to various estates in expectancy, limited on precedent estates which do not fulfill all the requirements of the common law. Remainders are either vested or contingent.
(1) A vested remainder is one by which a present interest passes to the party, though to be enjoyed in the future, and by which the estate is invariably fixed to remain to a determinate person after the particular estate is spent. A determinate remainderman in esse at the time of its creation is essential to a vested remainder. A future estate is vested where there is a person in being who would have an immediate right to the lands on the ceasing of the immediate or precedent estate. 1 Rev St. N. Y. c. 1, tit. 2, § 13. This definition has been justly criticised so far as it is intended to be declaratory of the common law, in that it omits the essential that the person who shall take the remainder shall be ascertained before the termination of the particular estate.
(2) A contingent remainder is one where the estate i
n remainder is limited to take effect either to a dubious and uncertain person, or upon a dubious and uncertain event, so that the particular . estate may chance to be determined, and the remainder never take effect 2 Bl. Comm. 169. A remainder which, as regards the possession or enjoyment, depends on a contingency other than the survival of the reREMAINDERMAN mainderman. Smith, Ex. Int. § 171. It is not the uncertainty of enjoyment in future, but the uncertainty of the right to that enjoyment, which marks the difference between a vested and a contingent interest. 4 Kent, Comm. 206; 2 Cruise, Dig. 270.
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Notice
This definition of Remainder Is based on the The Cyclopedic Law Dictionary . This definition needs to be proofread..
Practical Information
Note: Some of this information was last updated in 1982
The remnant of an estate in the land, depending upon a particular prior estate created at the same time and by the same instrument, and limited to arise immediately on the determination of that estate, and not in abridgement of it. For example, a mother deeds her real estate to
her daughter, but reserves a life estate for herself. The daughter is the remainderman. Upon the death of her mother, she will hold a fee simple (in U.S. law) in the real estate. See life estate (in U.S. law).
What is Remainder?
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See Also
Estate.
Further Reading (Articles)
Remainders will celebrate fresh cassette, Chicago Sun-Times; December 27, 1989; Dave Hoekstra
Charitable remainder trusts should flourish with increases in tax rates., The Tax Adviser; August 1, 1993; Robbins, Valerie C.
Gifting of a remainder interest in a home., The Tax Adviser; November 1, 2007; Kosty, Lauren
Doing Justice to Logical Remainders in QCA: Moving beyond the Standard Analysis, Political Research Quarterly; March 1, 2013; Schneider, Carsten Q. Wagemann, Claudius
A Remainder of One, Childhood Education; March 22, 1996; Widdifield, Ann
The Uniform Probate Code upends the law of remainders., Michigan Law Review; October 1, 1995; Dukeminier, Jesse
Why agents fail when trying to promote CRTs. (survey finds insurance agents inexperienced in marketing charitable remainder trusts), National Underwriter Life & Health-Financial Services Edition; November 18, 1996; Prince, Russ Alan
Purchase of QTIP remainder interest for FMV is a gift. (qualified terminable interest property, fair market value), The Tax Adviser; June 1, 1998; Barton, Peter C. Sager, Clayton R.
VOLUME DISCOUNT FOR THE DISCERNING BOOK LOVER, REMAINDER TABLES OFFER BARGAINS GALORE, The Boston Globe (Boston, MA); August 19, 2002; David Mehegan, Globe Staff
Unlock charitable sales by easing loss of asset fears.(marketing investments in charitable remainder trusts), National Underwriter Life & Health-Financial Services Edition; February 3, 1997; Rush, Russell
Estate Planning: Gifting with a Residential Remainder Interest: Substantial Tax Deductions Are Available., Accounting Technology; July 1, 2007; Dubes, Michael
Charitable remainder trusts, The Officer; April 1, 2002; Seiler, Walter C
A Remainder of One: Exploring Partitive Division, Teaching Children Mathematics; April 1, 2000; Moyer, Patricia Seray
Charitable remainder trusts, 1999., Statistics of Income. SOI Bulletin; June 22, 2002; Belvedere, Melissa
Charitable Remainder Trust Update, The CPA Journal; December 1, 1999; Brizard, Peter
Charitable remainder trusts have all-or-nothing boundaries [Corrected 09/19/02], Intelligencer Journal Lancaster, PA; September 9, 2002; Patti S. Spencer
Companies Reap Big Bucks in `Remainders’, Chicago Sun-Times; July 3, 1994; Hillel Italie
The Bucky Stops Here // Remainders Guitarist Talks Names, Education and Rock ‘n’ Roll, Chicago Sun-Times; July 16, 1993; Jae-Ha Kim
Charitable Remainder Trusts, 1998.(Statistical Data Included), Statistics of Income. SOI Bulletin; December 22, 2000; Belvedere, Melissa J.
Investment strategies unique to assets held in charitable remainder trusts.(Brief Article), The Tax Adviser; December 1, 1996; Phelps, Mary Brooks
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