remainder interest


remainder interest
England, Wales
An interest in a trust (or under the terms of a will), where the beneficiary's possession and enjoyment of the trust assets is postponed by a prior interest in the same assets.
For example, Doreen dies and in her will leaves her husband, Alf, a life interest in Rose Cottage. The will provides that, on Alf's death, Rose Cottage is to pass to Doreen's son, Cedric, outright. Cedric has a remainder interest in Rose cottage - taking possession only when Alf dies.

Practical Law Dictionary. Glossary of UK, US and international legal terms. . 2010.

Look at other dictionaries:

  • interest — in·ter·est / in trəst; in tə rəst, ˌrest/ n [probably alteration of earlier interesse, from Anglo French, from Medieval Latin, from Latin, to be between, make a difference, concern, from inter between, among + esse to be] 1: a right, title, claim …   Law dictionary

  • remainder — The remnant of an estate in 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. A future interest… …   Black's law dictionary

  • remainder — re·main·der n [Anglo French, from Old French remaindre to remain] 1: an estate in property in favor of one other than the grantor that follows upon the natural termination of a prior intervening possessory estate (as a life estate) created at the …   Law dictionary

  • Remainder — Re*main der (r? m?n d?r), n. [OF. remaindre, inf. See {Remain}.] 1. Anything that remains, or is left, after the separation and removal of a part; residue; remnant. The last remainders of unhappy Troy. Dryden. [1913 Webster] If these decoctions… …   The Collaborative International Dictionary of English

  • remainder — remainder, residue, residuum, remains, leavings, rest, balance, remnant can all mean what is left after the subtraction or removal of a part. Remainder is the technical term for the result in the arithmetical process of subtraction {subtract 8… …   New Dictionary of Synonyms

  • Remainder (disambiguation) — Remainder is the amount left over when dividing two integers.Remainder may also refer to:*Remaindered book, a publisher liquidating the remaining unsold copies of a book *Remainder (law), in property law, a future interest created in a transferee …   Wikipedia

  • Remainder (law) — Property law Part of …   Wikipedia

  • remainder — /ri mayn deuhr/, n. 1. something that remains or is left: the remainder of the day. 2. a remaining part. 3. Arith. a. the quantity that remains after subtraction. b. the portion of the dividend that is not evenly divisible by the divisor. 4. Math …   Universalium

  • Interest in possession trust — An interest in possession trust is a form of legal arrangement which gives a person a present right to the present enjoyment of something [ Viscount Dilhorne in Pearson v IRC [1980] STC 318 at 323] . At least one of the beneficiaries of this type …   Wikipedia

  • remainder — n. & v. n. 1 a part remaining or left over. 2 remaining persons or things. 3 a number left after division or subtraction. 4 the copies of a book left unsold when demand has fallen. 5 Law an interest in an estate that becomes effective in… …   Useful english dictionary


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