What is a vested remainder?

What is a vested remainder?

in this video we will discuss vested
remainders. A vested remainder is a type of future interest and the person
holding the interest is an identified, known person, and the interest is
unconditional. So, let’s say a father gives some land to his wife Sally for as
long as she lives and then to his son Jimmy. So now Sally has the land and
she’ll keep it until she passes away. When she does pass on, the land should go
to Jimmy. Notice there’s no condition on Jimmy getting the land. There’s no
requirement that Jimmy be 21 years old, be a pianist, or go to college – – no, there’s no
condition. Jimmy gets the land. Jimmy getting the land is unconditional plus
Jimmy is a known ,identified, ascertained person. We know exactly who he is
so because Jimmy is an identified, ascertained, person, with an unconditional
future interest, we say he has a vested remainder interest. Now, be careful — this
doesn’t mean Jimmy is guaranteed to get the land. Something terrible could happen
and Jimmy could pass away before Sally. But as of right now, he’s alive and he
has a vested remainder future interest. if you’d like to discuss vested
remainders or any other matter related to US law stop on my website blog and
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2 thoughts on “What is a vested remainder?

  1. Can you please do a video on the difference between a fee simple absolute and a life estate? Also, the difference between a fee simple determinable and a fee simple subject to to condition

  2. What's the difference between a vested remainder subject to total defeasance and a contingent remainder?

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