Remainder

An estate limited to take effect and be enjoyed after another estate is determined. Thus, if an owner of lands in fee-simple grants them to A for twenty years, and after the determination of that term to B and his heirs for ever, — in this case, the estate, being what remains of the fee after the term of twenty years is taken out, is called a remainder. In order to constitute or to create a remainder, it is a rule that there must be some "particular estate" to support it; that is to say, at the time of creating a remainder there must be some estate in the same lands created, to precede the remainder; and this preceding estate is termed the particular estate. Thus, in the example above given, the estate of A is termed the particular estate, because it is only a small part, or particule, of the inheritance, the residue or remainder of which is granted over to B. The necessity of creating this preceding particular estate, in order to make a good remainder, corresponds with the term remainder, which obviously implies that some part of the thing is previously disposed of. Remainders are said to be either vested or contingent. A vested remainder (or remainder executed) is one on the creation of which a present interest passes to the party, though its enjoyment is postponed to a future time, and by which the estate is invariably fixed to remain to a determinate person after the particular estate is spent; or, as otherwise expressed, a vested remainder is one which is always ready, from its creation to its close, to come into possession the moment the prior estate determines. Thus, if an estate is conveyed to A for twenty years, remainder to B in fee, B has a vested remainder, which nothing can defeat or set aside; and, generally, a person entitled to a vested remainder has an immediate fixed right of future enjoyment, — that is, a present estate, though it is only to take effect in possession and receipt of the profits at a future period. Contingent (or executory) remainders are such as are limited to take effect in favor of a dubious and uncertain person, or upon a dubious and uncertain event. Thus, if an estate be conveyed to A for life, and after his death to B's eldest son (then unborn) in tail, — this is a contingent remainder, for it is quite uncertain whether B will have a son or not; but the instant that a son is born, the remainder is no longer contingent, but becomes vested. There is an extended and varied body of learning upon this subject, for which the standard treatises on real-property law should be consulted. The distinctions and details connected with the subject are of but limited interest in most of the United States. Although generally used of landed property, this is because the permanent character of lands gives more frequent occasion for creation of future estates in them than in personalty, — not because the word is necessarily confined to realty. There may be a remainder in personal property. Upon the construction and force of the word remainder, in a devise of the remainder of an estate, see Fowler v. Depau, 26 Barb. 224; France's Estate, 75 Pa. St. 220.

Remainder-man.

The person to whom is reserved an estate created to come into possession after determination of a precedent estate; a tenant in remainder.