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All main topics / Law / Property / Property
4. Remainder
Future interest which can become possessory only upon EXPIRATION of PRIOR POSSESSORY INTEREST created by SAME INSTRUMENT

*No remainder after fee simple determinable
**Remainder is created in someone other than transferor (reversion is interest left in transferor after he has conveyed an interest to someone else)

1. grantor must convey present possessory estate to one transferee

2. grantor must create non-possessory estate in another transferee by same instrument

3. remainder must be capable of becoming possessory only on natural expiration of prior estate
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Flashcard info:
Author: jackielen
Main topic: Law
Topic: Property
Published: 17.04.2010




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