Word: remainder
Definition:
A future interest that takes effect after the termination of a prior estate, granted to someone other than the original estate creator.
Sample Sentence:
The deed left the house to Susan for life, with a remainder to her nephew upon her death.
Why It Matters:
Remainders are fundamental in estate planning and property transfers across generations.
Quick Tip:
Understand remainder interests when drafting or interpreting wills and trusts.
Source: https://legal.thomsonreuters.com/blog/legal-glossary/
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