Remainder in practice this legal term applies in the area of Property Law. There it details a right to future enjoyment or ownership of real property. The “left-over” after the property has been conveyed first to another party. A remainder interest is what if left-over after a life estate has run its course. Being opposite of reversion, a remainder cannot be acquired by the grantor or his (or her) heirs. The word forms the term “remainderman”, which refers to the figure of an heir with a prospective interest in a property. This person will inherit the assets if the main heir dies.

See also “Reversion”

Posted in: R